Burlington Stores Enters Material Definitive Agreement

TL;DR

BURL inked a new deal, expect financial moves.

AI Summary

On September 24, 2024, Burlington Stores, Inc. entered into a material definitive agreement related to a direct financial obligation. The company, incorporated in Delaware with its principal executive offices in Burlington, New Jersey, filed this 8-K report on September 26, 2024.

Why It Matters

This filing indicates Burlington Stores has entered into a significant financial agreement, which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements, especially those involving financial obligations, can introduce new risks or alter existing ones for a company.

Key Numbers

• 001-36107 — SEC File Number (Identifies the company's filing with the SEC.)
• 80-0895227 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• Burlington Stores, Inc. (company) — Registrant
• September 24, 2024 (date) — Date of earliest event reported
• September 26, 2024 (date) — Date of report
• Delaware (jurisdiction) — State of Incorporation
• New Jersey (state) — Principal Executive Offices Location

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share BURL New York Stock Excha
• $933 million — r things, (i) refinance the outstanding $933 million principal amount of term B-6 loans with
• $1,250 m — ans in an aggregate principal amount of $1,250 million, which includes incremental term
• $317 m — ans in an aggregate principal amount of $317 million, (ii) extend the maturity date fr

Filing Documents

• burl-20240924.htm (8-K) — 51KB
• burl-ex10_1.htm (EX-10.1) — 1695KB
• img211782411_0.jpg (GRAPHIC) — 24KB
• 0000950170-24-109645.txt ( ) — 2172KB
• burl-20240924.xsd (EX-101.SCH) — 29KB
• burl-20240924_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On September 24, 2024, Burlington Coat Factory Warehouse Corporation (the "Company"), an indirect wholly-owned subsidiary of Burlington Stores, Inc., entered into Amendment No. 11 (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, as further amended by that certain Amendment No. 8 dated as of February 26, 2020, and as further amended by that certain Amendment No. 9 dated as of June 24, 2021, and as further amended by that certain Amendment No. 10 dated as of May 11, 2023, 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, (i) refinance the outstanding $933 million principal amount of term B-6 loans with term B-7 loans in an aggregate principal amount of $1,250 million, which includes incremental term loans in an aggregate principal amount of $317 million, (ii) extend the maturity date from June 24, 2028 to September 24, 2031, and (iii) reduce the interest rate margins applicable to the Company's term loan facility from 1.00% to 0.75%, in the case of prime rate loans, and from 2.00% to 1.75%, in the case of SOF

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits . (d) Exhibits Exhibit No. Description 10.1 Amendment No. 11, dated as of September 24, 2021, to the Credit Agreement dated as of February 24, 2011 (as amended), 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) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BURLINGTON STORES, INC. /s/ David Glick David Glick Group Senior Vice President of Investor Relations and Treasurer Date: September 26, 2024

View Full Filing

View this 8-K filing on SEC EDGAR