Academy Sports + Outdoors Inc., which is being acquired by the buyout firm KKR & Co., is seeking an $840 million term loan to back the deal, according to a report by Bloomberg.
The first-lien debt wont contain financial maintenance covenants, said the person with knowledge of the deal to Bloomberg.
The deal reportedly includes a $650 million asset-based revolving line of credit that is being arranged by JPMorgan Chase & Co. The term loan was graded B by rating company Standard & Poor’s.
