Macy's cuts ABL credit line to $2.1 billion and extends maturity to 2030
On April 9, 2025, Macy's subsidiaries amended the credit agreement for its asset-based credit facility, reducing it from $3.0 billion to $2.1 billion and extending the maturity from March 2027 to April 2030. The facility is undrawn, and Macy's had $1.3 billion of cash and cash equivalents at the end of fiscal 2024. For shareholders, the filing describes a smaller, longer-dated source of committed liquidity with reduced letter of credit and unused facility fees.
Key points
- Facility reduced from $3.0 billion to $2.1 billion; maturity extended from March 2027 to April 2030.
- The facility is undrawn; the borrower may request increases of up to an additional $1.75 billion.
- Interest is adjusted SOFR plus 1.25% to 1.50%, or base rate plus 0.25% to 0.50%, depending on utilization.
- A fixed charge coverage ratio of at least 1.00 to 1.00 applies if availability falls below the greater of 10% of the Loan Cap and $175 million.
The filing
Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 09, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.