Kontoor amends facility for covenant relief, draws $475 million

By Sarah Lizee

Olympia, Wash., May 7 – Kontoor Brands Inc. drew down $475 million from its revolving credit facility and then amended the terms of its credit facility to provide future period covenant relief and increased flexibility, according to a press release.

The facility requires netted cash not to exceed $250 million.

Kontoor is a Greensboro, N.C.-based lifestyle apparel company.

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