---
title: "Gap Extends $2.2 Billion ABL to 2031, Removes Sustainability Pricing"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293322973.md"
description: "Gap Inc. has entered into Amendment No. 2 to its $2.2 billion asset-based revolving credit agreement, extending the maturity date to July 2031. The amendment removes sustainability-linked pricing provisions and updates terms for regulatory compliance. Borrowings will accrue interest at SOFR plus 1.25%–1.50%, with proceeds designated for working capital, capital expenditures, and general corporate purposes."
datetime: "2026-07-21T10:03:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293322973.md)
  - [en](https://longbridge.com/en/news/293322973.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293322973.md)
generator: "portal-rs"
---

# Gap Extends $2.2 Billion ABL to 2031, Removes Sustainability Pricing

Gap entered into Amendment No. 2 to its asset-based revolving credit agreement, maintaining total capacity at $2.2 billion and extending the maturity to July 2031. The amendment removes sustainability-linked pricing and updates the facility for regulatory changes. U.S. dollar borrowings will accrue at SOFR plus 1.25%–1.50% (or a base rate plus 0.25%–0.50%), with a 0.25% fee on undrawn amounts. Proceeds will fund working capital, capital expenditures, and general corporate purposes.

**Agreement details:**

-   **Agreement type**: Amendment to asset-based revolving credit facility ($2.2 billion)
-   **Counterparty**: Bank of America, as administrative agent, and other lenders
-   **Signed / Effective**: Jul 17 2026 / same
-   **Duration / Termination**: Through Jul 2031
-   **Reason**: Extend maturity and update ABL terms

Original SEC Filing: GAP INC \[ GAP \] - 8-K - Jul. 20, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**