Equinox seems to non-public credit score marketplace for $1.3bn refinancing deal

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Health firm Equinox Holdings is contemplating elevating as much as $1.3bn (£1.02bn) from the personal credit score market in an effort to refinance a collection of upcoming debt maturities.

The agency can also be believed to be contemplating a $400m most popular fairness fundraise as a part of the financing deal.

The posh health chain – which owns spin class franchise SoulCycle amongst different manufacturers – has a first-lien time period mortgage value greater than $1bn maturing in March 2024.

Learn extra: Inarcassa to extend personal debt allocations

Equinox additionally has a revolving credit score line maturing in January of subsequent yr, in addition to a $200m second-lien time period mortgage due in September 2024, in accordance with Moody’s Buyers Service.

In accordance with reporting from Bloomberg and The Wall Road Journal, Equinox’s adviser Centerview Companions has been assembly with direct lending funds to debate a possible credit score deal forward of the loans’ maturation.

Learn extra: Oaktree raises $3bn for contemporary particular conditions fund

Final month, Equinox revealed that its income had risen to $272.6m within the third quarter of the yr, up from $215.8m throughout the identical interval the earlier yr. The income enhance was fuelled by a hike in membership charges.

There are presently 35 Equinox golf equipment, however the holding group owns greater than 300 gyms, yoga studios and health areas throughout the US, in addition to in London, Toronto and Vancouver.

Learn extra: Personal debt market to develop to $2.8trn as variety of funds hits document excessive  



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