Life Time amends credit facility: boosts revolver to $650M, cuts rates, repays $200M term loan

Life Time Group Holdings, Inc.

Revolving credit commitments increased to $650 million; maturity extended to Sept 20, 2029, subject to earlier maturity if notes remain outstanding.
Interest rate reduced to SOFR + 2.50% or base rate + 1.50%; undrawn commitment fee cut from 50 bps to 25 bps.
Applicable margin can drop further 25 bps upon achieving leverage targets or investment-grade ratings.
Repaid remaining $200M term loan balance on Sept 20, 2024, eliminating all term loan borrowings.
Amendment involves Life Time, Inc. subsidiaries and Deutsche Bank as administrative agent.

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