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New York Sports Clubs Owner Plans Debt Extension With Sweetener

  • Gym operator’s parent wants to refinance its term loan
  • Company has arranged new junior loan if senior lenders extend
A New York Sports Club location in Manhattan.
A New York Sports Club location in Manhattan.Photographer: Alan Budman/Alamy

The owner of the New York Sports Clubs chain is pitching a fresh deal to push out the looming debt maturity wall at the gym operator.

Town Sports International Holdings Inc. has approached existing lenders to refinance its borrowings, which come due next year, according to people with knowledge of the matter. The company is telling investors that $50 million in new capital will be made available if it’s able to refinance the loan, the people said. They asked not to be identified because the information isn’t public.