The list of PE-backed companies looking to pay large dividends to their shareholders continues to grow.
Burlington Coat Factory, which is backed by Bain Capital, is in the market for a $1 billion loan to pay a dividend to its shareholders. JP Morgan is leading sale of the loan, according to Thomson Reuters Loan Pricing Corp.
Bain acquired the Burlington Coat Factory, which sells coats and women’s sportswear, in 2006 for $2.06 billion.
A Bain spokesman says that a portion of the loan will go to refinance debt.
Ascend Learning, which is owned by Providence Equity, is also trying to raise roughly $400 million—including $390 million in loans and $40 million in revolving credit—to pay a dividend, LPC said. Ascend Learning is made up of Assessment Technologies Institute and Jones & Bartlett Learning.