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Equinox launches $796 million term loan B at Libor plus 275-300 bps
By Sara Rosenberg
New York, Nov. 14 – Equinox Holdings Inc. held a lender call on Tuesday to launch a $796 million first-lien term loan B that is talked at Libor plus 275 basis points to 300 bps with a 1% Libor floor, according to a market source.
The term loan includes 101 soft call protection for six months, the source said.
Bank of America Merrill Lynch is the lead bank on the deal.
Commitments are due on Friday, the source added.
Proceeds will be used to reprice an existing first-lien term loan down from Libor plus 325 bps with a 1% Libor floor.
Equinox is a New York-based exercise and fitness company.
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