24 Hour Fitness to launch $970 million credit facilities on Tuesday

By Sara Rosenberg

New York, May 11 – 24 Hour Fitness Worldwide Inc. is scheduled to hold a lender presentation at 10:30 a.m. ET on Tuesday to launch $970 million of senior secured credit facilities, according to a market source.

Morgan Stanley Senior Funding Inc., Bank of America Merrill Lynch, Barclays, RBC Capital Markets and Citizens Capital Markets are the leads on the deal.

The facilities consist of a $120 million revolver and an $850 million first-lien term loan B, the source said.

Proceeds will be used to refinance existing debt.

24 Hour Fitness is a San Ramon, Calif.-based fitness-club operator.

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