Business
Planet Fitness Prices $750 Million Securitized Financing Facility
Planet Fitness, Inc. (NYSE: PLNT) (together with its subsidiaries, the "Company") today announced that it has priced $750 million of Series 2025-1 Class A-2 Fixed Rate Senior Secured Notes (the "Class A-2 Notes"), which consist of two tranches: the Class A-2-I Senior Secured Notes with an anticipated repayment term of five years, with an aggregate 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 a
About this update from Planet Fitness, Inc.
[{"type":"text","content":"HAMPTON, N.H., Dec. 5, 2025 /PRNewswire/ -- Planet Fitness, Inc. (NYSE: PLNT) (together with its subsidiaries, the "Company") today announced that it has priced $750 million of Series 2025-1 Class A-2 Fixed Rate Senior Secured Notes (the "Class A-2 Notes"), which consist of two tranches: the Class A-2-I Senior Secured Notes with an anticipated repayment term of five years, with an aggregate 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 term of seven years, with an aggregate principal amount of $350 million and a fixed interest rate of 5.649% per annum, payable quarterly. The Class A-2 Notes are expected to be issued by Planet Fitness Master Issuer LLC (the "Master Issuer"), a limited-purpose, bankruptcy remote, indirect subsidiary of Planet Fitness, Inc. in a privately placed securitization transaction. In addition to the Class A-2 Notes, the Company expects that it will enter into a $75 million variable funding note facility, in addition to the existing $75 million 2022-1 Variable Funding Senior Secured Notes, Class A-1 (the "Class A-1 Notes"). As of September 30, 2025, there were no borrowings outstanding under the existing variable funding notes facility.","length":1341,"tagName":"p"},{"type":"text","content":"The proceeds from the expected sale of the Class A-2 Notes will be used as follows:","length":83,"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 of approximately $410 million;","length":140,"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, which may include funding share repurchases by the Company.","length":91,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":345,"olType":false},{"type":"text","content":"The Company expects the Class A-1 Notes and the Class A-2 Notes transaction to close on or around December 15, 2025, subject to satisfaction of various closing conditions. There can be no assurance regar...