Life Time marketing $750 million five-year secured notes; initial guidance in low-to-mid 6% area

By Paul A. Harris

Portland, Ore., Jan. 13 – Life Time Inc. plans to price a $750 million offering of five-year senior secured notes (B3/B-) on Thursday, according to market sources.

Initial guidance has the notes coming to yield in the low-to-mid 6% area, a trader said.

Deutsche Bank Securities Inc. is leading the notes sale.

The notes come with two years of call protection.

The Chanhassen, Minn.-based operator of athletic resorts plans to use the proceeds to support a plan of amendment and extension of an existing term loan.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.