Business
Planet Fitness, Inc. Completes Refinancing Transaction
Planet Fitness, Inc. (NYSE: PLNT) (together with its subsidiaries, the "Company") today announced that it has completed its previously announced refinancing ...
About this update from Planet Fitness, Inc.
[{"type":"text","content":"HAMPTON, N.H., Dec. 15, 2025 /PRNewswire/ -- Planet Fitness, Inc. (NYSE: PLNT) (together with its subsidiaries, the "Company") today announced that it has completed its previously announced refinancing transaction.","length":224,"tagName":"p"},{"type":"text","content":"The new series of securitized notes (the "2025 Notes") consist of $750 million Class A-2 Senior Secured Notes issued in two tranches: the Class A-2-I Senior Secured Notes with an anticipated repayment date of five years, with a principal amount of $400 million and a fixed interest rate of 5.274% per annum, payable quarterly; and the Class A-2-II Senior Secured Notes with an anticipated repayment date of seven years, with a principal amount of $350 million and a fixed interest rate of 5.649% per annum, payable quarterly.","length":535,"tagName":"p"},{"type":"text","content":"In addition, the 2025 Notes include a revolving financing facility that allows for the issuance of up to $75 million in variable funding notes (the "Variable Funding Notes"), in addition to the existing $75 million 2022-1 Variable Funding Senior Secured Notes, Class A-1. As of the closing, none of the Variable Funding Notes have been drawn.","length":352,"tagName":"p"},{"type":"text","content":"The proceeds from the placement of the 2025 Notes will be used as follows:","length":74,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"to repay in full the Series 2022-1 Class A-2-I Notes, which as of September 30, 2025, had a principal balance (together with accrued and unpaid interest thereon) of approximately $410 million;","length":192,"tagName":"p"}]},{"val":[{"type":"text","content":"to pay the transaction costs and fund the reserve accounts associated with the securitized financing facility; and","length":114,"tagName":"p"}]},{"val":[{"type":"text","content":"for general corporate purposes, including funding share repurchases by the Company.","length":83,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":389,"olType":false},{"type":"text","content":"This press release does not constitute an offer to sell or the solicitation of an offer to buy the 2025 Notes or any other security. The 2025 Notes to be offered have not been, and will not be, registered under the Securities Act of 1933 and may not be offered or sold in the United Stat...