Burlington Stores, Inc. current report, 11 June 2021

Business Context and Reporting Period

This Form 8-K was filed by Burlington Stores, Inc. on June 11, 2021. The report details a specific corporate event regarding the redemption of debt securities by a wholly-owned subsidiary, Burlington Coat Factory Warehouse Corporation.

Key Financial Metrics

The filing focuses on a debt transaction rather than operational performance metrics like revenue or cash flow.

  • Debt Instrument: 6.250% Senior Secured Notes due 2025.
  • Principal Amount Redeemed: $300,000,000.
  • Total Redemption Price: $323,721,165 (excluding accrued and unpaid interest).
  • Accrued Interest: Paid in addition to the redemption price, though the specific amount is not disclosed in this text.

Material Changes

The primary material change is the complete removal of the $300 million Senior Secured Notes from the company's balance sheet. The redemption price exceeded the principal amount by approximately $23.7 million, indicating a premium payment to retire the debt early.

Guidance, Outlook, and Risks

This filing does not contain forward-looking guidance, management commentary on future operations, or a discussion of risks and contingencies. It is a notification of a completed transaction.

Investor Verification Checklist

  • Verify the impact of the $323.7 million cash outflow on the company's current liquidity position.
  • Confirm the specific amount of accrued interest paid, which is not detailed in this summary.
  • Review the company's remaining debt obligations to assess the overall leverage reduction.
  • Check subsequent filings for any new debt issuances intended to replace the redeemed notes.