Planet Fitness closes $750M notes refinancing and launches $350M accelerated share repurchase

Planet Fitness, Inc.

Issued $400M of 5.274% Class A-2-I and $350M of 5.649% Class A-2-II senior secured notes due 2030/2032.
Proceeds used to repay ~$410M of existing Series 2022-1 notes, pay costs, fund reserves, and general corporate purposes.
Entered $350M accelerated share repurchase with Citibank; initial delivery of ~2.5M shares (80% of expected total) in Q4 2025.
Board approved new $500M buyback authorization, effective upon completion of the ASR, replacing prior $500M program.
Variable funding notes of $75M (plus existing $75M facility) remain undrawn at closing.

item 1.01 item 1.02 item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Planet Fitness, Inc. incurred revolving credit of up to $75 million in Series 2025-1 Variable Funding Senior Notes, Class A-1 with Morgan Stanley Bank, N.A., Morgan Stanley Asset Funding, Inc., and certain conduit investors at per annum rates equal to (i) one, three or six month term SOFR plus 185 basis po maturing It is anticipated that the principal and interest on the Variable Funding Notes will be repaid in full on or prior to December 2030, subject to two additional o.

Instrument: revolving credit
Principal: up to $75 million in Series 2025-1 Variable Funding Senior Notes, Class A-1
Counterparty: Morgan Stanley Bank, N.A., Morgan Stanley Asset Funding, Inc., and certain conduit investors
Rate: per annum rates equal to (i) one, three or six month term SOFR plus 185 basis po
Maturity: It is anticipated that the principal and interest on the Variable Funding Notes will be repaid in full on or prior to December 2030, subject to two additional o
Event: incurrence

Exact text from the filing

the Master Issuer also entered into the previously announced revolving financing facility that allows for the issuance of up to $75 million in Series 2025-1 Variable Funding Senior Notes, Class A-1 (the “Variable Funding Notes”), and certain letters of credit, all of which are currently undrawn

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Planet Fitness, Inc. filing history →

Source: SEC EDGAR

accession 0001637207-25-000088

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