UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): March 23, 2020
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V. F. Corporation
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| (Exact Name of Registrant as Specified in Charter) |
Pennsylvania
| 001-05256
| 23-1180120
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(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
8505 E. Orchard Road
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| Greenwood Village, Colorado 80111 |
| (Address of Principal Executive Offices) |
(720) 778-4000
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
| Securities registered pursuant to Section 12(b) of the Act: |
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common Stock, without par value, stated capital $.25 per share
| VFC
| New York Stock Exchange
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0.625% Senior Notes due 2023
| VFC23
| New York Stock Exchange
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0.250% Senior Notes due 2028
| VFC28
| New York Stock Exchange
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| 0.625% Senior Notes due 2032 | VFC32
| New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
On March 23, 2020, V.F. Corporation (the “Company”) incurred indebtedness under its Five-Year Revolving Credit Agreement, dated December 17, 2018 (the “Credit Agreement”), among the Company, the borrowing subsidiaries party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, in an aggregate principal amount of $1 billion. As a result of the incurrence described above and current outstanding commercial paper, there is approximately $1 billion unused borrowing capacity under the Credit Agreement.
Item 7.01 Regulation FD Disclosure
As a result of the disruption and uncertainty caused by the COVID-19 coronavirus outbreak, on March 23, 2020, the Company issued a press release announcing the partial drawdown of the revolving credit facility and withdrawal of its adjusted fiscal 2020 outlook provided on January 23, 2020. The Company is not providing an updated outlook at this time. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
The following are furnished as exhibits to this report:
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| | 104 | | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | V.F. CORPORATION
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| Date: March 23, 2020 | By: | /s/ Laura C. Meagher | |
| | | Name: Laura C. Meagher | |
| | | Title: Executive Vice President, General | |
| | | Counsel & Secretary | |
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