Nordstrom Announces Additional Liquidity and Flexibility Measures
Nordstrom, Inc. (JWN)
Last nordstrom, inc. earnings: 3/3 04:05 pm
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US:NYSE Investor Relations:
investor.nordstrom.com
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Source: Business Wire
SEATTLE--(BUSINESS WIRE)--Nordstrom, Inc. (NYSE: JWN) continues to take precautionary measures to strengthen its financial position for the long term. The Company announced today the amendment of its $800 million revolving line of credit and the closing of its 8.75% secured debt offering of $600 million. These actions provide additional liquidity and flexibility in response to uncertainty related to the novel coronavirus (COVID-19).Under the terms of the amendment, the revolving line of credit will be secured primarily by the Company’s inventory during periods when its leverage ratio (Adjusted Debt to EBITDAR) exceeds 4.0 times or its credit ratings drop below investment grade. During this period, minimum liquidity thresholds will be applied. Additional details of the amendment are included in the Company’s 8-K filing.Nordstrom is well-positioned and has taken the following actions to date to increase its cash position and preserve financial flexibility:Exited fiscal 2019 with $85
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JWN
Earnings
- 3/5/24 - Beat
JWN
Sec Filings
- 4/25/24 - Form SC
- 4/18/24 - Form 8-K
- 4/18/24 - Form SC
- JWN's page on the SEC website