Dillard’s is extending a $800 million revolving credit facility for its liquidity needs.
The Little Rock-based clothing retailer announced that it would be amending and extending its senior secured revolving credit facility on Thursday, April 28. It previously amended its revolving credit facility in April 2020.
This revolving credit facility can be used for a range of needs, including capital financing, issuing letters of credit, capital expenditures and repaying debt and repurchasing shares, with restrictions. According to a company release, there are no requirements as long as the credit facility’s availability exceeds $80 million.
Dillard’s continues to have an expansion option for the credit facility of $200 million.
The maturity date is April 28, 2026. Previously, the credit facility was set to mature on Aug. 9, 2022, based on the 2020 amendment.
JPMorgan Chase Bank, N.A. arranged for the credit facility.