Burlington Stores issues $297M of 1.25% convertible notes, extends debt maturity to 2027

Burlington Stores, Inc.

Issued ~$297M of 1.25% convertible notes due 2027; exchanged ~$241M of existing 2.25% notes due 2025 and privately placed ~$42M.
Initial conversion price ~$205.93/share, a 32.5% premium over $155.42 (last sale on Sept 7, 2023).
Repurchased 165,975 shares at $155.42 per share in connection with the transactions.
Notes mature Dec 15, 2027; interest payable semi-annually; optional redemption after Dec 20, 2025 if stock >=130% conversion price.
Notes are unsecured; no shelf registration filed; up to ~1.42M shares may be issuable upon conversion.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Burlington Stores, Inc. entered into Indenture with Wilmington Trust, National Association (effective 2023-09-12).

Action: entry
Agreement: notes offering
Counterparty: Wilmington Trust, National Association
Effective: 2023-09-12

Exact text from the filing

The New Convertible Notes were issued pursuant to an Indenture, dated as of September 12, 2023, (the “Indenture”) between the Company and Wilmington Trust, National Association, as trustee (the “Trustee”).

View on SEC.gov

197 material agreements filed in the last 30 days. Browse all material agreements →

Burlington Stores, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-236947

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.