Under Armour launches $400M notes offering to refinance $600M 2026 notes

Under Armour, Inc.

$400M Senior Notes due 2030 offered in private placement; interest rate TBD.
Proceeds plus credit facility borrowings or cash to retire all $600M of 3.25% Notes due 2026.
Credit Agreement Amendment No. 7 extends maturity from Dec 2028 to June 2030.
Revolving commitment remains $1.1B; applicable margin 1.00%-1.75% (base rate 0.00%-0.75%).
Covenants unchanged: interest coverage >=3.5x, leverage <=3.25x (step-up to 3.75x after large acquisition).

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