PF Growth talks $200 million of term loans at Libor plus 500 bps

By Sara Rosenberg

New York, June 13 – PF Growth Partners launched on Thursday its $170 million six-year first-lien term loan and $30 million six-year delayed-draw first-lien term loan with price talk of Libor plus 500 basis points with a 0% Libor floor and an original issue discount of 99 to 99.5, according to a market source.

The term loan has 101 soft call protection for one year, the source said.

The company’s $205 million of credit facilities also include a $5 million revolver.

Fifth Third Bank is the lead arranger on the deal.

Commitments are due on June 25, the source added.

Proceeds will be used to refinance existing debt, pay a dividend and fund club growth and acquisitions.

PF Growth is an operator of Planet Fitness.

© 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.