Dillard’s, Inc. Amends and Extends Senior Unsecured Revolving Credit Facility
10 August 2017 - 9:28PM
Business Wire
Dillard’s, Inc. (NYSE: DDS) (“Dillard’s” or “the Company”)
announced that it has amended and extended into a new $800 million
senior unsecured revolving credit facility consistent with the
Company’s liquidity needs. A $200 million expansion option remains
in place and pricing is unchanged. The new maturity date is August
9, 2022.
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. In accordance with the
financial covenants in the credit agreement, Dillard’s will not
permit the total leverage ratio to exceed 3.50 to 1.00 or the
coverage ratio to be less than 2.50 to 1.00.
The credit facility was arranged by JPMorgan Chase Bank,
N.A.
About Dillard’s
Dillard’s, Inc. ranks among the nation’s
largest fashion retailers with annual sales exceeding $6 billion.
The Company focuses on delivering style, service and value to its
shoppers by offering compelling apparel, cosmetics, and home
selections complemented by exceptional customer care. Dillard’s
stores offer a broad selection of merchandise and feature products
from both national and exclusive brand sources. The Company
operates 268 Dillard’s locations and 25 clearance centers spanning
29 states, plus an Internet store at www.dillards.com.
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Dillard’s, Inc.Julie J. Bull, 501-376-5965
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