Press release from Business Wire
Dillard's, Inc. Amends and Extends $1.0 Billion Revolving Credit Facility
Thursday, April 12, 2012
LITTLE ROCK, Ark. (Business Wire) -- Dillard's, Inc. (NYSE: DDS) (“Dillard's” or the “Company”) announced today that it has amended and extended its $1.0 billion senior secured revolving credit facility. The facility, which now expires on April 11, 2017, has higher availability with the same amount of inventory pledged.
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.
The credit facility was arranged by J.P. Morgan Securities LLC and Wells Fargo Capital Finance, LLC.
Dillard's, Inc. is one of the nation's largest fashion apparel, cosmetics and home furnishing retailers. The Company's stores operate with one name, Dillard's, and span 29 states. Dillard's stores offer a broad selection of merchandise, including products sourced and marketed under Dillard's exclusive brand names.
Julie Johnson Bull, 501-376-5965
Director of Investor Relations