Fitness International talks $675 million term B at SOFR plus 475 bps

By Sara Rosenberg

New York, Jan. 18 – Fitness International LLC launched on Thursday its $675 million five-year term loan B with price talk of SOFR plus 475 basis points with a 0% floor and an original issue discount of 97 to 98, according to a market source.

The term loan B has 101 soft call protection for six months and 0 bps CSA.

Commitments are due at noon ET on Jan. 30, the source added.

The company’s $1.275 billion of credit facilities (B1/B+) also include a $300 million revolver and a $300 million term loan A.

BofA Securities Inc., Wells Fargo Securities LLC, BMO Capital Markets, MUFG and JPMorgan Chase Bank are the arrangers on the deal.

Proceeds will be used with cash on hand to refinance the company’s existing credit facilities.

Fitness International is an Irvine, Calif.-based owner-operator of fitness clubs.

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