Quarterly report pursuant to Section 13 or 15(d)

Financing Activities

v3.19.1
Financing Activities
3 Months Ended
May 04, 2019
Debt Disclosure [Abstract]  
Financing Activities
Financing Activities
The following table shows the detail of debt repayments:
 
 
13 Weeks Ended
 
May 4, 2019
 
May 5, 2018
 
(millions)
9.5% Amortizing debentures due 2021
$
2

 
$
2

9.75% Amortizing debentures due 2021
1

 
1

 
$
3

 
$
3



On May 9, 2019, the Company entered into a new credit agreement with certain financial institutions that replaces the previous credit agreement which was set to expire on May 6, 2021. Similar to the previous agreement, the new credit agreement provides for revolving credit borrowings and letters of credit in an aggregate amount not to exceed $1,500 million (which may be increased to $1,750 million at the option of the Company, subject to the willingness of existing or new lenders to provide commitments for such additional financing). The new credit agreement is scheduled to expire on May 9, 2024, subject to up to two one-year extensions that may be requested by the Company and agreed to by the lenders.