Item 1.01. Entry into a Material Definitive Agreement.
On June 24, 2021, Burlington Coat Factory Warehouse Corporation (the "Company"),
an indirect wholly-owned subsidiary of Burlington Stores, Inc., entered into
Amendment No. 9 (the "Amendment") to the Credit Agreement dated as of
February 24, 2011 (as amended by that certain Amendment No. 1 dated as of
May 16, 2012, as further amended by that certain Amendment No. 2 dated as
of February 15, 2013, as further amended by that certain Amendment No. 3 dated
as of May 17, 2013, as further amended by that certain Amendment No. 4 dated as
of August 13, 2014, as further amended by that certain Amendment No. 5 dated as
of July 29, 2016, as further amended by that certain Amendment No. 6 dated as of
November 17, 2017, as further amended by that certain Amendment No. 7 dated as
of November 2, 2018, and as further amended by that certain Amendment No. 8
dated as of February 26, 2020, the "Term Loan Credit Agreement") with JPMorgan
Chase Bank, N.A., as administrative agent, and the lenders and facility
guarantors party thereto. JPMorgan Chase Bank, N.A., BofA Securities, Inc.,
Goldman Sachs Bank USA, and Wells Fargo Securities, LLC, acted as joint lead
arrangers and joint bookrunners for the Amendment.
The parties entered into the Amendment in order to, among other things, extend
the maturity date from November 17, 2024 to June 24, 2028, and changed the
interest rate margins applicable to the Company's term loan facility from 0.75%
to 1.00%, in the case of prime rate loans, and from 1.75% to 2.00%, in the case
of LIBOR loans, with a 0.00% LIBOR floor. The Amendment was accomplished by
replacing the outstanding $961 million principal amount of term B-5 loans with a
like aggregate principal amount of term B-6 loans.
The foregoing description of the Amendment is qualified in its entirety by
reference to such document, a copy of which is attached hereto as Exhibit 10.1
and is incorporated into this Item 1.01 by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information contained in Item 1.01 with respect to the Amendment is
incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No. Description
10.1 Amendment No. 9, dated as of June 24, 2021, to the Credit Agreement
dated as of February 24, 2011, by and among Burlington Coat Factory
Warehouse Corporation, JPMorgan Chase Bank, N.A., as administrative
agent, and the lenders and facility guarantors party thereto.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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