DICK'S launches $400M exchange offer for Foot Locker notes, consent solicitation for acquisition

DICK'S SPORTING GOODS, INC.

Exchange offer for any/all $400M outstanding Foot Locker 4.000% Senior Notes due 2029 for new DICK'S notes plus consent payment.
Considers $2.50-$5.00 per $1,000 consent payment, $970 exchange consideration, $30 early participation premium per $1,000.
Conditions: majority tender and closing of acquisition of Foot Locker by DICK'S; expires Aug 1, 2025; settlement after deal closes.
DICK'S also entered new $2.0B unsecured revolving credit facility maturing June 6, 2030, replacing prior facility.

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