secwatch.observer — SEC 8-K summary
======================================

Issuer:     Burlington Stores, Inc. (BURL)
CIK:        0001579298
Form:       8-K
Filed at:   2022-07-22T23:59:59+00:00
Accession:  0001193125-22-200058
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Burlington Stores upsizes credit facility to $900M, transitions from LIBOR to SOFR
--------------------------------------------------------------------------------

- Credit facility commitments increased from $650M to $900M under Fourth Amendment dated July 20, 2022.
- Interest rate benchmark switched from LIBOR to term SOFR or daily SOFR (daily SOFR available for up to $100M).
- Advances bear interest at daily SOFR/term SOFR plus 1.125%-1.375% margin, or prime rate plus 0.125%-0.375%.
- Amendment executed by Burlington Coat Factory Warehouse Corp. as lead borrower and Bank of America as agent.
- No default existed immediately after the amendment; post-closing availability was at least $450M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1579298/000119312522200058/0001193125-22-200058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1579298/000119312522200058/d393601d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-200058

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer