Item 1.01. Entry into a Material Definitive Agreement.
OnJanuary 5, 2023 ,BJ's Wholesale Club Holdings, Inc. (the "Company"),BJ's Wholesale Club, Inc. and certain other subsidiaries of the Company entered into an amendment (the "Third Amendment") to the First Lien Term Loan Credit Agreement (as defined below), withNomura Corporate Funding Americas, LLC , as administrative agent and collateral agent and the lenders party thereto, which amends that certain First Lien Term Loan Credit Agreement, dated as ofFebruary 3, 2017 (as amended by that certain Refinancing Amendment to First Lien Term Loan Credit Agreement, dated as ofAugust 13, 2018 , and that certain Second Refinancing Amendment to First Lien Term Loan Credit Agreement, dated as ofJanuary 29, 2020 , the "First Lien Term Loan Credit Agreement").BofA Securities, Inc. ,Deutsche Bank Securities Inc. , andWells Fargo Securities LLC acted as joint lead arrangers and joint bookrunners of the Third Amendment. The Third Amendment, among other things, extends the maturity date with respect to the term loans outstanding under the First Lien Term Loan Credit Agreement fromFebruary 3, 2024 toFebruary 3, 2027 . In addition, the Third Amendment transitions the interest rate, effective immediately, from London Interbank Offered Rate ("LIBOR") to the Secured Overnight Financing Rate ("SOFR") and changes the applicable margin from LIBOR plus 2.00 - 2.25% per annum to SOFR plus 2.75% per annum. As ofJanuary 5, 2023 , there was$450.0 million outstanding under the First Lien Term Loan Credit Agreement, which reflects the Company's previous repayment of$152.0 million of the principal amount outstanding under the First Lien Term Loan Credit Agreement during the fourth quarter of fiscal year 2022 in connection with the Third Amendment. Certain of the lenders and their affiliates have provided, and they and other lenders and their affiliates may in the future provide, various commercial banking and/or other services in the ordinary course of business for the Company and its subsidiaries from time to time for which they have received, and may in the future receive, customary fees and expenses. The foregoing summary of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of such document, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 10.1* Third Amendment to First Lien Term Loan Credit Agreement, by and amongBJ's Wholesale Club, Inc. , the Company, the lenders party thereto from time to time andNomura Corporate Funding Americas, LLC , as administrative agent and as collateral agent, dated as ofJanuary 5, 2023 104 Cover Page Interactive Data File
(embedded within the Inline XBRL
document) * Schedules and exhibits to this Exhibit have been omitted in accordance with Item 601 of Regulation S-K.The Company agrees to furnish supplementally a copy of all omitted schedules and exhibits to theU.S. Securities and Exchange Commission or its staff upon request. . -------------------------------------------------------------------------------- .
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