Academy Sports and Outdoors, Inc. (Academy) completed a debt refinancing through a private placement of $500 million of 5.875 percent senior secured notes due in 2031. The sporting goods retailer utilized the net proceeds from this offering to redeem its existing 2027 notes and fully repay a $400 million term loan.
Academy has more than 300 stores across 21 states. The retailer plans to open between 20 and 25 stores this year as part of a broader plan to open 125 new locations over the next five years.
Image courtesy Academy Sports and Outdoors
