Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
FORMER BL STORES INC incurred lease obligation of $100 million with MUFG Bank, Ltd. at Term SOFR for the applicable payment period plus a 10 basis point spread adjustm maturing 60 months.
- Instrument
- lease obligation
- Principal
- $100 million
- Counterparty
- MUFG Bank, Ltd.
- Rate
- Term SOFR for the applicable payment period plus a 10 basis point spread adjustm
- Maturity
- 60 months
- Event
- incurrence
Exact text from the filing
(“we,” “us,” “our” or “Company”), the Company and certain of its subsidiaries, as guarantors, Bankers Commercial Corporation (“Lessor”), the rent assignees parties thereto (“Rent Assignees” and, together with Lessor, “Participants”), MUFG Bank, Ltd., as collateral agent for the Rent Assignees (in such capacity, “Collateral Agent”), and MUFG Bank, Ltd., as administrative agent for the Participants, entered into a Participation Agreement (the “Participation Agreement”), pursuant to which the Participants funded $100 million to Wachovia Service Corporation (“Prior Lessor”) to finance Lessor’s purchase of the Leased Property (as defined below) from the Prior Lessor.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
FORMER BL STORES INC terminated Prior Lease, Prior Participation Agreement, and Construction Agency Agreement with Prior Lessor, Wells Fargo Bank National Association valued at Prior Lease, Prior Participation Agreement, and Construction Agency Agreement terminated; Company pa (effective 2023-03-15).
- Action
- termination
- Agreement
- lease
- Counterparty
- Prior Lessor, Wells Fargo Bank National Association
- Value
- Prior Lease, Prior Participation Agreement, and Construction Agency Agreement terminated; Company pa
- Effective
- 2023-03-15
Exact text from the filing
Concurrently with Lessor’s purchase of the Leased Property from Prior Lessor, (1) the Real Property Lease Agreement between AVDC and the Prior Lessor (the “Prior Lease”), (2) the Participation Agreement between AVDC, the Prior Lessor, Wells Fargo Bank National Association, as Agent, and certain other subsidiaries of the Company named therein, as Guarantors, and the banks and other lending institutions named therein, as Lease Participants (the “Prior Participation Agreement”), and (3) the Construction Agency Agreement between AVDC and the Prior Lessor, in each case entered into on November 30, 2017 and, with respect to the Prior Lease and the Prior Participation Agreement, most recently amended on September 21, 2022 by the Fourth Amendment to Certain Operative Documents, were terminated on March 15, 2023.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
FORMER BL STORES INC entered into Participation Agreement and Lease Agreement with Bankers Commercial Corporation valued at Participants funded $100 million to finance purchase of Leased Property (effective 2023-03-15).
- Action
- entry
- Agreement
- lease
- Counterparty
- Bankers Commercial Corporation
- Value
- Participants funded $100 million to finance purchase of Leased Property
- Effective
- 2023-03-15
Exact text from the filing
On March 15, 2023, AVDC, LLC (“AVDC”), a wholly owned subsidiary of Big Lots, Inc. (“we,” “us,” “our” or “Company”), the Company and certain of its subsidiaries, as guarantors, Bankers Commercial Corporation (“Lessor”), the rent assignees parties thereto (“Rent Assignees” and, together with Lessor, “Participants”), MUFG Bank, Ltd., as collateral agent for the Rent Assignees (in such capacity, “Collateral Agent”), and MUFG Bank, Ltd., as administrative agent for the Participants, entered into a Participation Agreement (the “Participation Agreement”), pursuant to which the Participants funded $100 million to Wachovia Service Corporation (“Prior Lessor”) to finance Lessor’s purchase of the Leased Property (as defined below) from the Prior Lessor.
View on SEC.gov