Myer has successfully refinanced $600 million of debt.
Key features of the debt refinancing include more favourable pricing, increased tenor and improved terms.
The interest margin on the loans has been reduced, with Myer's fixed charges cover ratio covenant lowered from 1.65 times to 1.50 times across all facilities.
Remaining covenants are unchanged.
Myer CEO Richard Umbers said the refinancing places the department store in a stronger position.
"The successful outcome of refinancing discussions with our banking syndicate delivers a number of benefits to Myer and we are encouraged by the level of support we have received," said Mr Umbers.
"The decision to refinance our outstanding facilities at this time represents an opportunity to secure more favourable pricing on improved terms over an extended period," he said.
The table below summarises the revised structure.
