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CREDIT FACILITIES (Tables)
12 Months Ended
Feb. 03, 2024
CONVERTIBLE SENIOR NOTES  
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.