Planet Fitness announces $750M securitized notes issuance to refinance $410M existing notes

Planet Fitness, Inc.

Intends to issue $750M Series 2025-1 Fixed Rate Senior Secured Notes, upsizable to $850M.
Proceeds will repay Series 2022-1 Class A-2-I Notes ($410M principal as of Sep 30, 2025) in full.
Also plans a new $75M variable funding note facility; existing $75M facility had no borrowings outstanding.
Total securitized debt was approximately $2.2B as of Sep 30, 2025; refinancing expected to close in Dec 2025.
Net proceeds also for transaction costs, reserve accounts, and general corporate purposes including share repurchases.

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