Tue 09/26/2023 06:26 AM
Relevant Documents:
Preliminary OM
Covenant Analysis
U.K. gym operator Pure Gym is
marketing £805 million in senior secured notes due 2028 (New 2028s). The company will use the proceeds to refinance in full the group’s outstanding €490 million 5.5% senior secured notes due 2025 and £430 million 6.375% senior secured notes due 2025 (Existing 2025s).
Price talk is set in the low-10s for the sterling tranche and in the mid-8s for the euro tranche.
Overall, the terms of the new...
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