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Equinox readies launch of $800 million credit facility for Wednesday
By Sara Rosenberg
New York, Nov. 6 - Equinox Holdings Inc. is scheduled to hold a bank meeting at 1:30 p.m. ET on Wednesday to launch a proposed $800 million credit facility, according to a market source.
Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc., Goldman Sachs & Co. and Citigroup Global Markets Inc. are the lead banks on the deal.
The facility consists of a $100 million five-year revolver, a $500 million seven-year first-lien term loan and a $200 million 71/2-year second-lien term loan, the source said.
Proceeds will be used to refinance existing debt.
Equinox is a New York-based exercise and fitness company.
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