Equinox talks $200 million incremental loan at Libor plus 375-400 bps

By Sara Rosenberg

New York, Feb. 26 – Equinox Holdings Inc. launched on Tuesday its non-fungible $200 million incremental seven-year covenant-light term loan B (B1/B+) with price talk of Libor plus 375 basis points to 400 bps with a 0% Libor floor and an original issue discount of 99, according to a market source.

The incremental term loan has 101 soft call protection for six months, the source said.

Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc., City National Bank, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Goldman Sachs Bank USA are the leads on the deal.

Commitments are due at noon ET on March 7, the source added.

Proceeds will be used for capital expenditures associated with new club openings and for general corporate purposes.

Equinox is a New York-based exercise and fitness company.

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