Sports Authority to launch $630 million term loan B on Monday

By Sara Rosenberg

New York, Nov. 1 - Sports Authority Inc. will launch a $630 million seven-year covenant-light senior secured term loan B with a 10 a.m. ET bank meeting on Monday, according to a market source.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC, BMO Capital Markets Corp., Credit Suisse Securities (USA) LLC, RBC Capital Markets LLC, UBS Securities LLC and Wells Fargo Securities LLC are the lead banks on the deal.

The term loan B will have 101 soft call protection for one year, the source said.

Amortization is 1% per annum.

Proceeds will be used to refinance an existing term loan due 2017 and senior subordinated notes due 2016.

Sports Authority is an Englewood, Colo.-based sporting goods retailer.

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