Burlington refinances $933 million term loan, extends maturity to September 2031
On September 24, 2024, subsidiary Burlington Coat Factory Warehouse Corporation signed Amendment No. 11 to its term loan credit agreement with JPMorgan Chase Bank, N.A., as administrative agent. The amendment refinances $933 million of term B-6 loans with $1,250 million of term B-7 loans, including $317 million of incremental term loans, while extending the maturity and lowering interest rate margins. For shareholders, the company takes on $317 million of additional term borrowing in exchange for a later maturity and lower margins.
Key points
- Term B-6 loans of $933 million refinanced with $1,250 million of term B-7 loans, including $317 million of incremental term loans
- Maturity extended from June 24, 2028 to September 24, 2031
- Prime rate margin cut from 1.00% to 0.75%; SOFR margin cut from 2.00% to 1.75%, with a 0.00% SOFR floor
- Term B-7 loans issued at an original issue discount of 99.5
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:11 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 26, 2024.
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