Ascena Retail Group amended its credit facility with JPMorgan as administrative agent.

According to a related 8-K filing, the revolving credit agreement provides a senior secured asset-based revolving credit facility of $500 million with an optional increase of up to $200 million.

The revolving credit facility may be used to fund working capital requirements, capital expenditures and for general corporate purposes. It may be used for the issuance of letters of credit and includes a $200 million letter of credit sublimit, of which $100 million may be used for standby letters of credit, as well as a $30 million swingline loan sublimit.

The obligations under the 2018 revolving credit agreement are guaranteed by certain of the company’s domestic subsidiaries. As collateral security, the company and the subsidiary guarantors have granted to the administrative agent, for the benefit of the secured parties thereunder, a lien on substantially all of their tangible and intangible assets, including, without limitation, certain domestic inventory and certain material real estate.