[8-K] WOLVERINE WORLD WIDE INC /DE/ Reports Material Event
Wolverine World Wide amended its credit arrangements and receivables purchase agreement in late September 2025. The company replaced its prior credit facilities with a $600 million revolving Senior Credit Facility (down from $800 million) and eliminated the existing Term Loan A; $25.0 million of Term Loan A outstanding at closing was refinanced into the new revolver. Loans under the Senior Credit Facility bear interest at either a base rate or SOFR plus a leverage-based margin (base rate margin 0.25%–1.25%; LIBOR margin 1.25%–2.25%) and unused-commitment fees of 0.20%–0.40%. The Senior Credit Facility maturity was extended to September 24, 2030. Separately, the company’s Receivables Purchase Agreement was amended to set the Scheduled Termination Date at September 25, 2028. The filing notes customary covenants, representations and events of default; full agreements will be filed as exhibits to the company’s quarterly report.
Wolverine World Wide ha modificato i propri accordi di credito e l'accordo di acquisto delle receivables alla fine di settembre 2025. L’azienda ha sostituito i precedenti strumenti di credito con una linea revolving Senior Credit Facility da 600 milioni di dollari (ridotta rispetto agli 800 milioni) ed ha eliminato il Term Loan A; 25,0 milioni di Term Loan A in essere al closing sono stati rifinanziati nel nuovo revolver. I prestiti nell’ambito della Senior Credit Facility portano interesse al tasso di base o SOFR più un margine legato all’indice di leva (margine tasso di base 0,25%–1,25%; margine LIBOR 1,25%–2,25%) e commissioni per impegno inutilizzato dello 0,20%–0,40%. La scadenza della Senior Credit Facility è stata estesa al 24 settembre 2030. Separatamente, l’accordo di acquisto delle receivables è stato modificato per fissare la data di terminazione programmata al 25 settembre 2028. Il deposito cita covenants, dichiarazioni ed eventi di default tipici; gli accordi completi saranno allegati al rapporto trimestrale dell’azienda.
Wolverine World Wide modificó sus acuerdos de crédito y el acuerdo de compra de cuentas por cobrar a finales de septiembre de 2025. La empresa reemplazó sus facilities previas por una Línea de Crédito Senior Revolving de $600 millones (bajada desde $800 millones) y eliminó el Préstamo a Plazo A; $25,0 millones de dicho préstamo al cierre se refinanciaron en la nueva revolvér. Los préstamos bajo la Línea de Crédito Senior devengan interés ya sea a una tasa base o SOFR más un margen basado en apalancamiento (margen de tasa base 0,25%–1,25%; margen LIBOR 1,25%–2,25%) y comisiones por compromiso no utilizado de 0,20%–0,40%. La madurez de la Línea de Crédito Senior se extendió al 24 de septiembre de 2030. Por separado, el acuerdo de compra de cuentas por cobrar se modificó para fijar la Fecha de Terminación Programada en 25 de septiembre de 2028. La presentación señala covenants, representaciones y eventos de incumplimiento habituales; los acuerdos completos se presentarán como anexos al informe trimestral de la empresa.
Wolverine World Wide는 2025년 9월 말에 신용 약정과 매출채권 매입 계약을 개정했다. 회사는 이전의 신용시설을 600백만 달러의 회전형 Senior Credit Facility로 교체했고 Term Loan A를 제거했다; 마감 시점의 25,000,000 달러의 Term Loan A 일부는 새로운 revolver로 재융자되었다. Senior Credit Facility 하의 대출은 기본금리 또는 SOFR에 레버리지 기반 마진을 더한 이자율로 발생하며(기본금리 마진 0.25%–1.25%; LIBOR 마진 1.25%–2.25%) 사용하지 않은 한도 수수료는 0.20%–0.40%이다. Senior Credit Facility의 만기는 2030년 9월 24일로 연장되었다. 또한 매출채권 매입 계약은 분기 종료일을 2028년 9월 25일로 정하는 방향으로 수정되었다. 제출 문서는 일반적인 covenant, 진술 및 기본 이벤트를 명시하고 있으며, 전체 계약서는 회사의 분기 보고서에 첨부된 예시로 파일링될 예정이다.
Wolverine World Wide a modifié ses arrangements de crédits et son accord d’achat de créances à la fin de septembre 2025. La société a remplacé ses facilités de crédit antérieures par une ligne de créditSenior Revolving de 600 millions de dollars (en baisse par rapport à 800 millions) et a supprimé le Prêt à Terme A; 25,0 millions de dollars de ce prêt à la clôture ont été refinancés dans la nouvelle revolver. Les prêts sous la Senior Credit Facility portent intérêt soit au taux de référence soit au SOFR plus une marge liée au levier (marge taux de référence 0,25%–1,25%; marge LIBOR 1,25%–2,25%) et des frais d’engagement inutilisé de 0,20%–0,40%. L’échéance de la Senior Credit Facility a été portée au 24 septembre 2030. Par ailleurs, l’accord d’achat de créances a été modifié pour fixer la Date de Résiliation Prévue au 25 septembre 2028. Le dépôt mentionne les covenants habituels, les représentations et les événements de défaut ; les accords complets seront déposés en pièces jointes au rapport trimestriel de la société.
Wolverine World Wide hat seine Kreditvereinbarungen und das Receivables Purchase Agreement Ende September 2025 geändert. Das Unternehmen hat die bisherigen Kreditfazilitäten durch eine revolving Senior Credit Facility über 600 Millionen USD ersetzt (von 800 Millionen reduziert) und den bestehenden Term Loan A gestrichen; 25,0 Millionen USD aus Term Loan A zur Closing waren in die neue Revolver refinanziert. Darlehen unter der Senior Credit Facility verzinsen sich entweder zu einem Basiszinssatz oder SOFR zuzüglich einer leverage-basierten Marge (Basiszinssatz-Marge 0,25%–1,25%; LIBOR-Marge 1,25%–2,25%) und ungenutzte-Commitment-Gebühren von 0,20%–0,40%. Die Fälligkeit der Senior Credit Facility wurde auf 24. September 2030 verlängert. Separat wurde das Receivables Purchase Agreement geändert, sodass das geplante Enddatum auf 25. September 2028 festgelegt wurde. Die Einreichung nennt übliche Covenants, Zusicherungen und Ereignisse des Verzugs; vollständige Vereinbarungen werden als Anhänge zum Quartalsbericht der Gesellschaft eingereicht.
Wolverine World Wide عدّلت ترتيبات الائتمان واتفاقية شراء الذمم المدينة في أواخر سبتمبر 2025. استبدلت الشركة تسهيلات الائتمان السابقة بخط ائتمان دوّار Senior Credit Facility بقيمة 600 مليون دولار (انخفاض من 800 مليون دولار) وألغت Term Loan A؛ تم إعادة تمويل 25.0 مليون دولار من Term Loan A القائم عند الإغلاق إلى revolver الجديد. الفوائد على القروض ضمن Senior Credit Facility تكون عند معدل أساس أو SOFR زائد هامش قائم على الرفع (هامش معدل الأساس 0.25%–1.25%؛ هامش LIBOR 1.25%–2.25%) ورسوم الالتزام غير المستخدم 0.20%–0.40%. تم تمديد استحقاق Senior Credit Facility إلى 24 سبتمبر 2030. بشكل منفصل، تم تعديل اتفاقية شراء الذمم المدينة لتحديد تاريخ الإنهاء المجدول عند 25 سبتمبر 2028. تذكر الوثائق القابلة للتقديم التعهدات والتمثيلات والأحداث الافتراضية التقليدية؛ وسيتم تقديم الاتفاقيات الكاملة كملحقات في تقرير الشركة الربعي.
Wolverine World Wide 于 2025 年 9 月底修订了其信贷安排及应收账款购买协议。公司将先前的信贷工具替换为一项 6 亿美元的高级循环信贷额度（Senior Credit Facility），较此前的 8 亿美元下降，并取消了现有的 定期贷款 A（Term Loan A）；在交割时，2500 万美元的 Term Loan A 余额被再融资进入新循环信贷额度。高级信贷额度项下的贷款利息按基本利率或 SOFR 加上基于杠杆的溢价（基准利率溢价 0.25%–1.25%；LIBOR 溢价 1.25%–2.25%），未使用的承诺费为 0.20%–0.40%。高级信贷额度的到期日延至 2030 年 9 月 24 日。另外，公司的应收账款购买协议被修改，将计划终止日期设定为 2028 年 9 月 25 日。备案中提及惯常的契约、陈述和违约事件；完整协议将作为季度报告的展品提交。
- Extended maturity of the Senior Credit Facility to September 24, 2030, lengthening the company’s committed financing runway
- Elimination of Term Loan A and refinancing of $25.0 million into the revolver, simplifying the debt structure
- Receivables Purchase Agreement amended to set Scheduled Termination Date at September 25, 2028
- Reduced revolver capacity from $800 million to $600 million, decreasing available committed liquidity
Insights
TL;DR: Debt structure simplification and maturity extension, with a smaller revolver and leverage‑based pricing.
The amendment reduces revolving commitments from $800 million to $600 million while eliminating the Term Loan A and refinancing $25.0 million of outstanding term debt into the new revolver. Extending the senior facility maturity to September 24, 2030 lengthens the company’s secured financing runway. Interest pricing is variable and tied to net total leverage, with base rate margins of 0.25%–1.25% and LIBOR margins of 1.25%–2.25%, and unused commitment fees of 0.20%–0.40%. These are standard covenant and default terms for this financing type. The receivables facility Scheduled Termination Date was set to September 25, 2028.
TL;DR: The company streamlined its capital structure by removing the term loan and extending maturities, while reducing available revolver capacity.
Eliminating Term Loan A and rolling $25.0 million into the senior revolver simplifies debt instruments and consolidates financing under a single senior facility. The five‑year maturity extension to 2030 provides longer-term liquidity visibility, while pricing tied to net leverage creates direct linkage between covenant performance and interest cost. The receivables agreement amendment formalizes the termination timeline to 2028. Full text of the amendments will clarify covenant specifics and any potential financial maintenance tests.
Wolverine World Wide ha modificato i propri accordi di credito e l'accordo di acquisto delle receivables alla fine di settembre 2025. L’azienda ha sostituito i precedenti strumenti di credito con una linea revolving Senior Credit Facility da 600 milioni di dollari (ridotta rispetto agli 800 milioni) ed ha eliminato il Term Loan A; 25,0 milioni di Term Loan A in essere al closing sono stati rifinanziati nel nuovo revolver. I prestiti nell’ambito della Senior Credit Facility portano interesse al tasso di base o SOFR più un margine legato all’indice di leva (margine tasso di base 0,25%–1,25%; margine LIBOR 1,25%–2,25%) e commissioni per impegno inutilizzato dello 0,20%–0,40%. La scadenza della Senior Credit Facility è stata estesa al 24 settembre 2030. Separatamente, l’accordo di acquisto delle receivables è stato modificato per fissare la data di terminazione programmata al 25 settembre 2028. Il deposito cita covenants, dichiarazioni ed eventi di default tipici; gli accordi completi saranno allegati al rapporto trimestrale dell’azienda.
Wolverine World Wide modificó sus acuerdos de crédito y el acuerdo de compra de cuentas por cobrar a finales de septiembre de 2025. La empresa reemplazó sus facilities previas por una Línea de Crédito Senior Revolving de $600 millones (bajada desde $800 millones) y eliminó el Préstamo a Plazo A; $25,0 millones de dicho préstamo al cierre se refinanciaron en la nueva revolvér. Los préstamos bajo la Línea de Crédito Senior devengan interés ya sea a una tasa base o SOFR más un margen basado en apalancamiento (margen de tasa base 0,25%–1,25%; margen LIBOR 1,25%–2,25%) y comisiones por compromiso no utilizado de 0,20%–0,40%. La madurez de la Línea de Crédito Senior se extendió al 24 de septiembre de 2030. Por separado, el acuerdo de compra de cuentas por cobrar se modificó para fijar la Fecha de Terminación Programada en 25 de septiembre de 2028. La presentación señala covenants, representaciones y eventos de incumplimiento habituales; los acuerdos completos se presentarán como anexos al informe trimestral de la empresa.
Wolverine World Wide는 2025년 9월 말에 신용 약정과 매출채권 매입 계약을 개정했다. 회사는 이전의 신용시설을 600백만 달러의 회전형 Senior Credit Facility로 교체했고 Term Loan A를 제거했다; 마감 시점의 25,000,000 달러의 Term Loan A 일부는 새로운 revolver로 재융자되었다. Senior Credit Facility 하의 대출은 기본금리 또는 SOFR에 레버리지 기반 마진을 더한 이자율로 발생하며(기본금리 마진 0.25%–1.25%; LIBOR 마진 1.25%–2.25%) 사용하지 않은 한도 수수료는 0.20%–0.40%이다. Senior Credit Facility의 만기는 2030년 9월 24일로 연장되었다. 또한 매출채권 매입 계약은 분기 종료일을 2028년 9월 25일로 정하는 방향으로 수정되었다. 제출 문서는 일반적인 covenant, 진술 및 기본 이벤트를 명시하고 있으며, 전체 계약서는 회사의 분기 보고서에 첨부된 예시로 파일링될 예정이다.
Wolverine World Wide a modifié ses arrangements de crédits et son accord d’achat de créances à la fin de septembre 2025. La société a remplacé ses facilités de crédit antérieures par une ligne de créditSenior Revolving de 600 millions de dollars (en baisse par rapport à 800 millions) et a supprimé le Prêt à Terme A; 25,0 millions de dollars de ce prêt à la clôture ont été refinancés dans la nouvelle revolver. Les prêts sous la Senior Credit Facility portent intérêt soit au taux de référence soit au SOFR plus une marge liée au levier (marge taux de référence 0,25%–1,25%; marge LIBOR 1,25%–2,25%) et des frais d’engagement inutilisé de 0,20%–0,40%. L’échéance de la Senior Credit Facility a été portée au 24 septembre 2030. Par ailleurs, l’accord d’achat de créances a été modifié pour fixer la Date de Résiliation Prévue au 25 septembre 2028. Le dépôt mentionne les covenants habituels, les représentations et les événements de défaut ; les accords complets seront déposés en pièces jointes au rapport trimestriel de la société.
Wolverine World Wide hat seine Kreditvereinbarungen und das Receivables Purchase Agreement Ende September 2025 geändert. Das Unternehmen hat die bisherigen Kreditfazilitäten durch eine revolving Senior Credit Facility über 600 Millionen USD ersetzt (von 800 Millionen reduziert) und den bestehenden Term Loan A gestrichen; 25,0 Millionen USD aus Term Loan A zur Closing waren in die neue Revolver refinanziert. Darlehen unter der Senior Credit Facility verzinsen sich entweder zu einem Basiszinssatz oder SOFR zuzüglich einer leverage-basierten Marge (Basiszinssatz-Marge 0,25%–1,25%; LIBOR-Marge 1,25%–2,25%) und ungenutzte-Commitment-Gebühren von 0,20%–0,40%. Die Fälligkeit der Senior Credit Facility wurde auf 24. September 2030 verlängert. Separat wurde das Receivables Purchase Agreement geändert, sodass das geplante Enddatum auf 25. September 2028 festgelegt wurde. Die Einreichung nennt übliche Covenants, Zusicherungen und Ereignisse des Verzugs; vollständige Vereinbarungen werden als Anhänge zum Quartalsbericht der Gesellschaft eingereicht.
FAQ
What change did Wolverine World Wide (WWW) make to its revolving credit facility?
Was any term loan refinanced in the amendment?
When does the new Senior Credit Facility mature?
How is interest calculated under the Senior Credit Facility?
What are the unused-commitment fees on the Senior Credit Facility?
What change was made to the Receivables Purchase Agreement?
