As we have informed here, PureGym has successfully completed the offering of GBP 805m (equivalent) senior secured notes and its GBP 175.5m revolving credit facility financing. The net proceeds of the notes will be used to refinance PureGym’s existing financial indebtedness. PureGym is a leading European gym and fitness operator, with approximately 1.9 million members across more than 550 sites in the United Kingdom, Denmark and Switzerland.
Niederer Kraft Frey advised the initial purchasers and lenders on the offering of EUR 380 million 8.250% senior secured notes due 2028, GPB 475 million 10.000% senior secured notes due 2028 and a GPB 175.5 million super senior revolving credit facility for PureGym.
The NKF team included financing/capital markets partners Andrea Giger (pictured right) and Adrian Koller (pictured left), associate Selim Lötscher (financing) and partner Markus Kronauer (tax).