Equinox tightens discount on $100 million add-on term loan to 99 7/8

By Sara Rosenberg

New York, June 18 – Equinox Holdings Inc. modified the original issue discount on its fungible $100 million add-on term loan (Ba3) to 99 7/8 from 99½, according to a market source.

Pricing on the add-on loan matches the existing term loan at Libor plus 325 basis points with a 1.25% Libor floor.

Recommitments were due at the close of business on Wednesday, the source said.

Allocations are expected on Thursday.

Bank of America Merrill Lynch and Morgan Stanley Senior Funding Inc. are the lead banks on the deal.

Proceeds will be used for general corporate purposes.

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

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