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Academy Sports and Outdoors Plans $500 Million Notes Offering

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-- Academy Sports and Outdoors (ASO) said Monday it intends to offer $500 million aggregate principal amount of senior secured notes due 2031 through its wholly owned subsidiary, Academy, in a private offering.

The company plans to use the proceeds to redeem its outstanding senior secured notes due 2027, repay borrowings under its term loan facility and cover related fees and general corporate purposes.

Academy also said it has issued a notice of conditional redemption for all of its 2027 notes, with a redemption date set for May 14. The redemption is subject to the completion of the new notes offering.

Shares of the company were down 1% in Monday trading.

Price: $53.25, Change: $-0.53, Percent Change: -0.99%

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