Dillard’s, Inc. Amends and Extends Revolving Credit Facility

Rhea-AI Summary

Dillard's (DDS) has successfully amended and extended its $800 million senior secured revolving credit facility with a new maturity date of March 12, 2030. The facility maintains a $200 million expansion option and can be utilized for various corporate purposes, including working capital, letters of credit, capital expenditures, debt repayment, and share repurchases.

The amended agreement requires no financial covenant compliance as long as availability exceeds $80 million and no specified default events occur. The credit facility was arranged by JPMorgan Chase Bank, N.A.

Positive

• Extended credit facility maturity to March 2030, providing long-term financial flexibility
• Maintained substantial $800 million facility size with $200 million expansion option
• No financial covenant requirements if availability exceeds $80 million
• Flexible terms allowing for share repurchases and debt repayment

Negative

• Credit facility availability must maintain $80 million threshold to avoid financial covenant requirements

LITTLE ROCK, Ark., March 17, 2025 (GLOBE NEWSWIRE) -- Dillard’s, Inc. (DDS-NYSE) (“Dillard’s” or “the Company”) announced that it has 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 is March 12, 2030.

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 and no specified event of default has occurred or is continuing.

The credit facility was arranged by JPMorgan Chase Bank, N.A.

Contact:        

Julie J. Guymon
(501) 376-5965
julie.guymon@dillards.com

FAQ

What is the new maturity date for Dillard's (DDS) revolving credit facility?

Dillard's revolving credit facility has been extended to March 12, 2030.

How much is Dillard's (DDS) revolving credit facility worth?

The credit facility is worth $800 million with an additional $200 million expansion option.

What can Dillard's (DDS) use the revolving credit facility for?

The facility can be used for working capital, letters of credit, capital expenditures, debt repayment, and share repurchases.

What are the financial covenant requirements for Dillard's (DDS) credit facility?

No financial covenant requirements apply if availability exceeds $80 million and no specified default events occur.

Which bank arranged Dillard's (DDS) revolving credit facility?

JPMorgan Chase Bank, N.A. arranged the credit facility.