Life Time Group Holdings, Inc. has refinanced its $274 million Term Loan B facility. In addition to extending the maturity to January 15, 2026, the company increased the facility to $310 million due to strong demand.
In connection with the refinancing, the company’s term loan facility converted from LIBOR to SOFR. The new Term Loan B rate is SOFR plus a credit spread adjustment plus the same 4.75 percent spread, with a 0.5 percent SOFR floor and priced at 99.5.
The company said it would use the incremental net proceeds to repay in full the outstanding balance on the company’s $475 million revolver and for general corporate purposes.
