Dillard’s amended and extended its $800 million senior secured revolving credit facility consistent with the company’s liquidity needs. A $200 million expansion option remains in place. The new maturity date for the facility is April 28, 2026.
The credit facility is available to the company for general corporate purposes, including, among other uses, working capital financing, the issuance of letters of credit, capital expenditures and, subject to certain restrictions, the repayment of existing indebtedness and share repurchases. There are no financial covenant requirements under the amended credit agreement, provided availability exceeds $80 million.
JPMorgan Chase Bank arranged the credit facility.