Schedule of Outstanding Balances Under our Credit Facilities |
| | | | | | | | | | | | | | | | | | | | | | | FEBRUARY 3, | | JANUARY 28, | | | 2024 | | 2023 | | | | | | | UNAMORTIZED | | | | | | UNAMORTIZED | | | | | | | | | | DEBT | | NET | | | | | DEBT | | NET | | | INTEREST | | OUTSTANDING | | ISSUANCE | | CARRYING | | OUTSTANDING | | ISSUANCE | | CARRYING | | | RATE(1) | | AMOUNT | | COSTS | | AMOUNT | | AMOUNT | | COSTS | | AMOUNT | | | | (dollars in thousands) | Asset based credit facility(2) | | 6.68% | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | Term loan B(3) | | 7.95% | | | 1,955,000 | | | (15,115) | | | 1,939,885 | | | 1,975,000 | | | (18,471) | | | 1,956,529 | Term loan B-2(4) | | 8.68% | | | 493,750 | | | (20,054) | | | 473,696 | | | 498,750 | | | (24,505) | | | 474,245 | Equipment promissory note(5) | | — | | | — | | | — | | | — | | | 1,160 | | | — | | | 1,160 | Total credit facilities | | | | $ | 2,448,750 | | $ | (35,169) | | $ | 2,413,581 | | $ | 2,474,910 | | $ | (42,976) | | $ | 2,431,934 |
(1) | Interest rates for the asset based credit facility and term loans represent the weighted-average interest rates as of February 3, 2024. |
(2) | Deferred financing fees associated with the asset based credit facility as of February 3, 2024 and January 28, 2023 were $2.5 million and $3.5 million, respectively, and are included in other non-current assets on the consolidated balance sheets. The deferred financing fees are amortized on a straight-line basis over the life of the revolving line of credit, which has a maturity date of July 29, 2026. |
(3) | Represents the Term Loan Credit Agreement (defined below), of which outstanding amounts of $1,935 million and $1,955 million were included in term loan—net on the consolidated balance sheets as of February 3, 2024 and January 28, 2023, respectively, and $20 million was included in other current liabilities on the consolidated balance sheets as of both February 3, 2024 and January 28, 2023. |
(4) | Represents the outstanding balance of the Term Loan B-2 (defined below) under the Term Loan Credit Agreement, of which outstanding amounts of $489 million and $494 million were included in term loan B-2—net on the consolidated balance sheets as of February 3, 2024 and January 28, 2023, respectively, and $5.0 million was included in other current liabilities on the consolidated balance sheets as of both February 3, 2024 and January 28, 2023. |
(5) | Represents equipment security note secured by certain of our property and equipment, which was included in other current liabilities on the consolidated balance sheets as of January 28, 2023. The equipment security note was repaid in full in April 2023 and, as of February 3, 2024, is no longer outstanding. |
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