Loan & DebtMay 4, 2026, 05:02 PM
Academy Sports prices $500M 5.875% Senior Secured Notes due 2031
AI Summary
Academy Sports & Outdoors, Inc.'s wholly-owned subsidiary, Academy, Ltd., priced a private offering of $500 million aggregate principal amount of 5.875% senior secured notes due 2031. The offering is expected to close on May 14, 2026. The net proceeds will be used to redeem all outstanding senior secured notes due 2027, repay all outstanding amounts under its term loan facility, pay related fees and expenses, and for general corporate purposes.
Key Highlights
- Academy, Ltd. priced $500 million aggregate principal amount of senior secured notes.
- The notes carry an interest rate of 5.875% and are due in 2031.
- Proceeds will fund the redemption of outstanding senior secured notes due 2027.
- Proceeds will also repay outstanding amounts under its term loan facility.
- The notes are secured by first and second-priority liens on personal property.
- The offering is expected to close on May 14, 2026.