Quarterly report pursuant to Section 13 or 15(d)

Short-term Borrowings and Long-term Debt

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Short-term Borrowings and Long-term Debt
9 Months Ended
Oct. 01, 2016
Short-term Borrowings and Long-term Debt

Note H  Short-term Borrowings and Long-term Debt

In June 2016, VF entered an accession agreement to increase the existing $1.75 billion senior unsecured revolving line of credit to $2.25 billion. This line of credit supports VF’s commercial paper program which was also increased to $2.25 billion.

In September 2016, VF issued €850 million of 0.625% fixed-rate notes maturing in September 2023. The outstanding balance of the notes was $947.1 million at September 2016, which was net of unamortized original issue discount and debt issuance costs. Interest expense on these notes is recorded at an effective annual interest rate of 0.712% which includes amortization of original issue discount and debt issuance costs.