Simpson Thacher represented Academy, Ltd., a wholly-owned subsidiary of Academy Sports and Outdoors, Inc. (“Academy”), in connection with its offering of $400 million aggregate principal amount of its 6% Senior Secured Notes due 2027. Simpson Thacher also represented Academy, Ltd. in connection with the its entry into a senior secured term loan facility for $400 million due 2027. The net proceeds of the offering and the senior secured term loan facility were used, together with cash on hand, to repay in full Academy, Ltd.’s existing term loans, and to pay related fees and expenses.
Academy is one of the leading full-line sporting goods and outdoor recreation retailers in the United States. Originally founded in 1938 as a family business in Texas, Academy has grown to 259 stores across 16 contiguous states, primarily in the southern United States.
The Simpson Thacher team included Joe Kaufman, Sunny Cheong, Stephanie Rowan and Nicholas Halliburton (Capital Markets); Kal Venkatraj and Simone Worthy (Credit); Charles Mathes (Public Company Advisory Practice); Tristan Brown and Alyssa Ohanian (Executive Compensation and Employee Benefits); Nancy Mehlman, Sophie Staples and Suzy Yaster (Tax); Melanie Jolson (Intellectual Property); and Jonathan Pall (Collateral). Associates Evan Zuckerman and Patrick Wolff also provided valuable assistance.