The newly public retailer plans to use about $648 million of balance sheet cash to pay down its $1,434 million outstanding term loan due in 2022, with the balance coming from a new $400 million term loan due in 2027 and $400 million of other secured debt. The debt restructuring should bring ASO’s debt to EBITDA ratio down below 4X. About $180 million of cash came from the IPO, with the rest of the windfall coming from strong sales of sporting goods and outdoor equipment during the pandemic, along with its commitment to guns and ammo, which saw a huge ... Log in to view full article.