Planet Fitness Operator Mulls Refinancing Loan With Private Debt
- Firm is working with Evercore to raise $750 million of capital
- United FP operates fitness centers under Planet Fitness brand
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The largest operator of Planet Fitness gyms, United FP, is in talks with private credit lenders for a $750 million debt package to help refinance a maturing leveraged loan, according to people with knowledge of the matter.
The American Securities-owned fitness franchisee is working with Evercore Inc., which has been reaching out to direct lenders and opportunistic funds about providing fresh financing, said the people who asked not to be identified as the details are private. The proposed deal would include a term loan as well as preferred equity, they added.