Academy sports + outdoors announces $99 million paydown and refinancing of its term loan and upgrade to credit rating

Katy, texas, may 25, 2021 /prnewswire/ -- academy sports and outdoors, inc. ("academy" or the "company") (nasdaq: aso) announced today that it has completed a paydown and refinancing of its term loan and that its s&p global credit rating has been upgraded. on may 25, 2021, academy reduced its term loan obligation by $99 million, leaving an outstanding principal balance of $300 million, and lowered the interest rate on the remaining balance by 125 basis points to libor + 3.75%.
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