Planet Fitness To Raise $900M Via Debt Offering

• Planet Fitness Inc (NYSE:PLNT) has priced $900 million of Series 2022-1 Class A-2 Fixed Rate Senior Secured Notes.
• The series consists of two tranches, Class A-2-I with the principal amount of $425 million and Class A-2-II with $475 million.
• In addition to the Class A-2 Notes, the refinancing transaction also includes a $75 million variable funding note facility.
• The company plans to use a portion of the net proceeds to repay $556.3 million of the Series 2018-1 Class A-2-I Notes, and fund a portion of the previously announced acquisition of Sunshine Fitness in an amount up to $325 million.
• Planet Fitness expects the transactions to close on or around February 10, 2022.
• Price Action: PLNT shares traded higher by 2.53% at $84.84 on the last check Wednesday.