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Burlington Coat eyes $300 million five-year PIK toggle notes
By Paul A. Harris and Aleesia Forni
Columbus, Ohio, Feb. 14 - Burlington Holdings LLC and Burlington Holdings Financial Inc. plan to sell $300 million of senior PIK toggle notes due 2018, according to a market source.
The company held a conference call 11 a.m. ET.
The deal is expected to come as a quick-to-market transaction.
Goldman Sachs & Co., J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Morgan Stanley & Co. LLC and BofA Merrill Lynch are joint bookrunners.
Proceeds from the Rule 144A and Regulation S transaction will be used to make a distribution to equity holders.
Burlington is a Burlington, N.J.-based retailer of apparel and home products.
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