Myer has completed the refinancing of its bank facility, with an extension to February 2021.
Myer chairman Garry Hounsell said the deal is a "vote of confidence in the board and its skilled executive team."
"Importantly, this facility gives us further confidence and ability to deliver our Customer First Plan to create shareholder value and turn around the business, not through promises but through execution and delivery.
"Under the facility, we have further confidence and ability to set our strategic direction, including paying dividends when we meet financial covenants and it is prudent to do so, and market standard security which allows Myer to trade its business as normal."
Myer majority shareholder Premier Investments, owned by Solomon Lew, has blasted the deal.
"Garry Hounsell has handed the Myer keys to the big banks, who are now officially in complete control of the business.
"The failed Myer Board's capitulation to the big banks means there is no ability to invest in the business, and no ability to pay a dividend to shareholders for the foreseeable future."
Myer's AGM is scheduled for this Friday.