Dillard’s announced it has amended and extended its $1 billion senior secured revolving credit facility, taking advantage of favorable market conditions. The facility pricing was improved and the maturity has been extended an additional year to July 1, 2018.

Dillard said the credit facility was arranged by J.P. Morgan Securities and Wells Fargo Capital Finance.

The amended 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 credit agreement provided availability exceeds $100 million.

Little Rock, AK-based Dillard’s is one of the nation’s largest fashion apparel, cosmetics and home furnishing retailers.