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Article Date: May 2020
Word Count: 161

Under Armour Offers $400 Million in Convertible Debt

Under Dog is offering $400 million plus an optional additional $60 million in convertible senior notes due June 1, 2024 that can be converted to UA shares at any time with certain conditions, or unconditionally after Jan. 1, 2024. The offering has not yet been priced. Proceeds will be used to partially pay down its outstanding revolver balance, but some of funds will pay for capped call transactions with the purchasers of the notes or other counterparties to reduce potential dilution ... Log in to view full article.


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