Under Armour, Inc. announced that it has priced the $400 million aggregate principal amount of its 7.250 percent senior notes due 2030. The company will use the proceeds from the offering to pay down debt due in 2026.
Under Armour expects to close on the sale of the notes on June 23, 2025, subject to customary closing conditions.
The notes will be senior, unsecured obligations of Under Armour, bearing interest semiannually in arrears. The notes will be guaranteed on a senior unsecured basis by Under Armour’s subsidiaries that provide guarantees under its amended revolving credit agreement.
Under Armour intends to use the net proceeds from the offering, together with borrowings under its amended revolving credit agreement, cash on hand, or a combination thereof, to redeem, repurchase or otherwise retire the $600 million in aggregate principal amount of its outstanding 3.25 percent senior notes due 2026.
Image courtesy Under Armour
