Academy Prices $500M of 5.875% Senior Secured Notes Due 2031
Academy Sports + Outdoors subsidiary Academy, Ltd. priced $500M of 5.875% senior secured notes due 2031, expected to close May 14, 2026. Proceeds will redeem all 2027 senior secured notes, repay the term loan and cover related fees, with notes secured by first- and second-priority liens on all property.
1. Note Pricing Details
Academy, Ltd., a wholly owned subsidiary of Academy Sports + Outdoors, executed a private placement of $500 million aggregate principal amount of 5.875% senior secured notes due 2031. The offering, exempt from Securities Act registration, is expected to close on May 14, 2026, subject to customary closing conditions.
2. Use of Proceeds
Net proceeds will fully redeem all outstanding senior secured notes due 2027, repay the term loan facility, pay related fees and expenses, and support general corporate purposes, aligning the company’s debt maturity profile.
3. Security and Guarantees
The notes will be guaranteed on a senior secured basis by certain subsidiaries and secured by a first-priority lien on substantially all personal property and a second-priority lien on property backing the asset-based revolving credit facility.