Planet Fitness, Inc. announced a proposed refinancing transaction involving the issuance of new securitized debt and repayment of existing notes.
The company plans to issue $750 million Series 2025-1 Fixed Rate Senior Secured Notes with the potential to upsize to $850 million.
Proceeds from the refinancing will be used to repay existing notes, cover transaction costs, and for general corporate purposes.
Refinancing Transaction
Subsidiaries of Planet Fitness to complete a refinancing transaction including issuance of new debt and repayment of existing notes.
Issuance of Notes
Intention to issue $750 million Series 2025-1 Fixed Rate Senior Secured Notes with potential to upsize to $850 million.
Purpose of Proceeds
Proceeds to be used for repayment of existing notes, transaction costs, and general corporate purposes.
- The refinancing transaction aims to improve the company's debt structure and provide funding for corporate initiatives.
- This move demonstrates Planet Fitness' strategic approach to managing its financial obligations and optimizing its capital structure.
The proposed refinancing transaction by Planet Fitness signals the company's proactive steps to strengthen its financial position and support future growth.