Burlington Stores calls 9%/9¾% notes due 2018, 10% notes due 2019

By Susanna Moon

Chicago, July 17 – Burlington Stores, Inc. said it called its 9%/9¾% senior notes due 2018 and 10% senior notes due 2019 with proceeds of a new loan and drawdown.

The notes will be redeemed on Aug. 13.

Burlington Stories is seeking $1.2 billion of commitments for a new senior secured credit facility as part of a debt refinancing, according to a company press release.

In addition, the company said it is renewing its asset-backed loan facility for another five years.

The notes have been called for redemption, conditioned on the company raising enough funds.

The Burlington, N.J.-based company operates a national chain of off-price retail stores through its wholly owned subsidiaries.

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