According to an 8K filed with the SEC, JPMorgan Chase Bank served as administrative agent on the refinancing of a senior secured facility for QVC with a new amended and restated senior secured credit facility. The new senior secured credit facility is a multi-currency revolving facility that provides a line of credit of up to $3.25 billion and replaces QVC’s existing $2.95 billion bank credit facility. QVC is a wholly-owned subsidiary of Qurate Retail.

The interest rate pricing for the new senior secured credit facility was decreased from the interest rate pricing in QVC’s existing bank credit facility and is based on a pricing grid that varies depending on the combined ratio of consolidated total debt to consolidated EBITDA of the borrowers under the new senior secured credit facility. The maturity on the new senior secured credit facility is Oct. 27, 2026. The multi-currency revolving facility may be borrowed by QVC (including QVC Global Corporate Holdings), Zulily and Cornerstone Brands, which are each direct or indirect wholly-owned subsidiaries of Qurate Retail. The new senior secured credit facility is secured by the equity of QVC, Zulily and Cornerstone Brands.