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Academy to launch roughly $2.48 billion credit facility on Tuesday
By Sara Rosenberg
New York, June 1 – Academy Ltd. (Academy Sports + Outdoors) is scheduled to hold a lender call at 1 p.m. ET on Tuesday to launch a $2,475,000,000 credit facility, according to a market source.
The facility consists of a $650 million ABL revolver and a $1,825,000,000 term loan B, the source said.
J.P. Morgan Securities LLC is the left lead arranger on the revolver, and Morgan Stanley Senior Funding Inc. is the left lead arranger on the term loan.
Proceeds will be used to refinance all of the company’s existing debt.
Academy is a Katy, Texas-based sports, outdoor and lifestyle retailer.
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