Academy Sports issues $500M senior secured notes to refinance debt and support operations

Academy Sports and Outdoors announced a $500 million private offering of 5.875% senior secured notes due 2031, aimed at refinancing its 2027 senior secured notes and repaying term loan debt. The notes are secured by a first and second-priority lien on the company's and guarantors' personal property. Proceeds will also cover fees and general corporate purposes. The offering targets qualified institutional buyers and non-U.S. persons, with closing expected on May 14, 2026, subject to conditions.