24 Hour Fitness to launch $675 million credit facility on Tuesday

By Sara Rosenberg

New York, March 26 - 24 Hour Fitness Worldwide Inc. is scheduled to hold a bank meeting on Tuesday to launch its proposed $675 million credit facility, according to a market source.

JPMorgan is the lead bank on the deal.

The facility consists of a $75 million five-year revolver and a $600 million six-year term loan B, the source said, adding that price talk is not yet available.

Proceeds will be used to refinance existing debt.

24 Hour Fitness is a San Ramon, Calif., fitness center company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.