Burlington Coat launches $871 million term B at Libor plus 325-350 bps

By Sara Rosenberg

New York, Feb. 6 - Burlington Coat Factory Warehouse Corp. held a call at 2 p.m. ET on Wednesday to launch an $871 million term loan B due February 2017 with talk of Libor plus 325 basis points to 350 bps with a 1% Libor floor and a par offer price, according to a market source.

The B loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the left lead on the deal.

Proceeds will be used to refinance an existing term loan B that is priced at Libor plus 425 bps with a 1.25% Libor floor.

Burlington Coat Factory is a Burlington, N.J.-based discount retailer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.