Acushnet Holdings Corp. has priced a $500 million senior notes offering through its wholly‑owned subsidiary, Acushnet Company. The notes carry a 5.625% coupon, mature on December 1 2033, and will begin paying semi‑annual interest on June 1 2026.
The proceeds will be used to redeem $350 million of the company’s existing 7.375% senior notes due 2028, repay a portion of its revolving secured credit facility, and cover issuance fees. By replacing higher‑yielding debt with a lower‑cost instrument, Acushnet expects to lower its annual interest expense, improve its debt‑to‑equity ratio, and free up cash for capital expenditures, strategic initiatives, and shareholder return programs.
Prior to the offering, Acushnet’s balance sheet included the $350 million of 7.375% notes and a revolving credit facility that had been used to support working‑capital needs and opportunistic investments. The new notes will replace the higher‑coupon debt, thereby reducing the company’s weighted‑average cost of debt and tightening leverage. The refinancing also provides a longer maturity horizon, giving Acushnet more flexibility to manage its capital structure in a cyclical industry.
The golf equipment and apparel market is subject to seasonal demand swings and discretionary‑spending sensitivity. By securing lower‑rate debt, Acushnet positions itself to weather potential downturns while maintaining the financial capacity to invest in product development, marketing, and potential acquisitions. The liquidity generated also supports the company’s commitment to returning value to shareholders through dividends or share repurchases.
The pricing of the notes reflects strong lender confidence in Acushnet’s brand portfolio—Titleist, FootJoy, and VEO—and its ability to generate consistent cash flow. The lower coupon rate indicates favorable market conditions for debt issuance and suggests that Acushnet’s credit profile remains robust.
In summary, the $500 million senior notes offering strengthens Acushnet’s balance sheet, reduces interest costs, and enhances financial flexibility, positioning the company to continue investing in growth while maintaining a solid debt profile.
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