Academy Sports and Outdoors, Inc.'s subsidiary Academy, Ltd. priced a $500 million private offering of 5.875% senior secured notes due 2031 to refinance 2027 notes and term loan.
Key takeaways
Academy, Ltd. priced $500 million 5.875% senior secured notes due 2031 in private offering exempt under Securities Act.
Offering expected to close May 14, 2026, subject to customary conditions.
Net proceeds to redeem all outstanding senior secured notes due 2027 and repay term loan facility.
Notes guaranteed by certain Academy subsidiaries and secured by first-priority liens on personal property.
Offered only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.