New Issue: Equinox Holdings prices upsized $160 million six-year notes to yield 9%

By Paul A. Harris

St. Louis, Dec. 9 - Equinox Holdings, Inc. priced an upsized issue of $160 million of senior notes due Dec. 15, 2009 (B3/B-) at par, Tuesday, to yield 9%, according to a syndicate source.

The deal was increased from a planned size of $150 million. Price talk was 9%-9¼%.

Merrill Lynch & Co. and UBS Investment Bank were joint bookrunners on the Rule 144A deal. Wachovia Securities was co-manager.

Proceeds will be used to repay debt and for general corporate purposes The issuer is an exercise and fitness company headquartered in New York City.

Issuer:	Equinox Holdings, Inc.
Amount:	$160 million (increased from $150 million)
Maturity:	Dec. 15, 2009
Security description:	Senior notes
Bookrunners:	Merrill Lynch & Co., UBS Investment Bank
Co-manager:	Wachovia Securities
Coupon:	9%
Price:	Par
Yield:	9%
Spread:	534 basis points
Call features:	Callable after Dec. 15, 2006 at 104.50, 102.25, par on Dec. 15, 2008 and thereafter
Equity clawback:	Until Dec. 15, 2006 for 35% at 109.0
Settlement date:	Dec. 16
Ratings:	Moody's: B3
	Standard & Poor's: B-
Price talk:	9%-9¼%

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