Under Armour, Inc. announced the pricing of its private offering of $400 million aggregate principal amount of 7.250% Senior Notes due 2030 at par. The sale of these notes is expected to close on June 23, 2025, subject to customary closing conditions.
The company intends to use the net proceeds from this offering, combined with borrowings under its amended revolving credit agreement and cash on hand, to redeem, repurchase, or otherwise retire the $600 million in aggregate principal amount of its outstanding 3.25% Senior Notes due 2026. This move aims to address its near-term debt maturities.
This successful pricing of the Senior Notes demonstrates Under Armour's access to capital markets and its proactive approach to managing its balance sheet. The refinancing is a key step in optimizing its financial structure as it continues its strategic transformation.
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