Ulta Beauty amended its loan agreement with Wells Fargo as administrative agent, extending the maturity to August 23,2022 and increasing the revolving credit facility by $50 million.

According to a related 8-K filing, the loan agreement provides maximum revolving loans equal to lesser of $400 million or a percentage of eligible owned inventory. The loan agreement contains a $20 million subfacility for letters of credit.

Wells Fargo Bank and JPMorgan Chase Bank are lead arrangers and bookrunners for the transaction. JPMorgan Chase Bank is syndication agent and a lender. PNC Bank is documentation agent and a lender.

Substantially all of the Ulta Parties’ assets are pledged as collateral for outstanding borrowings under the loan agreement. Outstanding borrowings will bear interest at either a base rate or the LIBOR + 1.25%, and the unused line fee is 0.20% per annum.