Exhibit 99.1
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FOR IMMEDIATE
RELEASE
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CONTACT
: James E. Skinner
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Executive Vice President
and
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Chief Financial Officer
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(214) 757-2954
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Stacie Shirley
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Vice President — Finance
and
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Treasurer
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(214) 757-2967
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NEIMAN MARCUS, INC. AMENDS
SECURED CREDIT FACILITY
DALLAS, Texas, July 15, 2009
— Neiman Marcus, Inc. announces that it has entered into
an amended and restated senior secured revolving credit agreement
which has a tenure of 3.5 years and will expire January 15,
2013. The maximum committed borrowing capacity of the amended
facility remains at $600 million. The facility also provides an
uncommitted accordion feature that allows the Company to request
the lenders to provide additional capacity in either the form of
increased revolving commitments or incremental term loans, subject
to a total maximum facility of $800 million.
“We are very pleased with the
outcome of our process and the strong level of support we received
from this leading group of bank institutions,” said Jim
Skinner, Executive Vice President and Chief Financial Officer.
“We believe our success in maintaining our facility size is
evidence of the confidence that our banking group has in our
company and our ability to effectively manage our business during
this challenging economic period. This facility, combined with our
current cash balance in excess of $250 million, provides us with
ample liquidity to support the growth of our
company.”
Banc of America Securities LLC,
Wells Fargo Retail Finance, LLC, JP Morgan Securities LLC and
Regions Business Capital Corporation are joint lead arrangers and
joint bookrunning managers for the transaction. Other major lending
institutions
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