Equinox talks planned $400 million six-year secured notes at 9¾% area with about 1-2 points OID

By Paul A. Harris

St. Louis, Jan. 21 - Equinox Holdings, Inc. talked its $400 million offering of six-year second-lien senior secured notes with a yield in the 9¾% area with about 1 to 2 points of original issue discount, an informed source told Prospect News on Thursday.

The books close at 11:30 a.m. ET on Friday.

Morgan Stanley & Co. and Citadel Securities are joint bookrunners for the Rule 144A for life deal.

The notes come with three years of call protection.

Proceeds, together with cash on hand, will be used to refinance an outstanding revolving credit facility, the Equinox Holdings, Inc. 9¼% senior notes due 2012 and the Equinox Holdings II discount notes due 2013.

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

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