As a result of this transaction, the Company expects to incur a Loss on Extinguishment of Debt of approximately $75 million, subject to completion of final accounting procedures. Included in the estimated interest expense savings is the amortization of approximately $15 million in expenses in connection with the refinancing transaction, which would be paid upon closing, and approximately $6 million in original issue discount, which will accrete over the life of the new term loan. The Company has called for redemption of all of its 2018 Notes and 2019 Notes conditioned on raising sufficient funds under the proposed new credit facility and expects to retire the existing term loan and senior notes on August 13, 2014.
Burlington Stores, Inc. a nationally recognized off-price retailer of high-quality, branded apparel at everyday low prices, announced the launch of #
There can be no assurances that the Company will be able to consummate the refinancing transaction on the terms described or at all. In addition, while management’s estimation of the effects of the refinancing transaction on our results of operations has been provided, there can be no assurance that these effects will be achieved.
Burlington Stores, Inc. a nationally recognized off-price retailer of high-quality, branded apparel at everyday low prices, announced the launch of #
The Company is providing this information given the launch of the refinancing transaction and the improvement in its comparable store sales to its original second quarter guidance previously provided in conjunction with its first quarter results on June 10, 2014, and investors should not expect the Company to provide interim quarterly updates of guidance or outlook information in advance of scheduled quarterly earnings announcement dates.
Burlington Stores, Inc. a nationally recognized off-price retailer of high-quality, branded apparel at everyday low prices, announced the launch of #
Burlington Stores
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