Latham & Watkins Advises Initial Purchasers in Academy Sports and Outdoors, Inc.’s Senior Secured Notes Offering

Academy Sports and Outdoors, Inc., one of the leading full-line sporting goods and outdoor recreation retailers in the United States, has announced that its wholly-owned subsidiary, Academy, Ltd., priced a private offering that is exempt from the registration requirements of the Securities Act of 1933, of US$400 million aggregate principal amount of 6% senior secured notes due 2027. The offering is expected to close on November 6, 2020, subject to customary closing conditions.

Latham & Watkins LLP represented the initial purchasers in the offering with a capital markets team led by New York partners Marc Jaffe and Ian Schuman, with associates John Slater and Angel Marcial. Advice was also provided on tax matters by New York partner Lisa Watts, with associate Eric Kamerman.