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BJ’s Wholesale said to seek $1.62b in loans to refinance

BJ’s Wholesale Club Inc., the US warehouse-store chain acquired last year by Leonard Green & Partners LP and CVC Capital Partners, is seeking $1.625 billion in loans to refinace debt and pay a dividend, according to a person with knowledge of the transaction.

On its website, Westborough-based BJ’s says it operates roughly 190 club stores in 15 states from Maine to Florida.

Deutsche Bank AG, Citigroup Inc., Barclays Plc, Jefferies Group Inc., and Morgan Stanley are arranging the financing, which will consist of a $1.225 billion first-lien term loan and a $400 million second-lien term piece, said the person, who declined to be indentified becuase the information is private, the person said.

The banks will host a lender meeting Sept. 10 at 2:30 p.m. to discuss the loan, the person said.