Planet Fitness Prices $750 Million Notes to Repay 2022 Securitized Debt
Planet Fitness priced $750 million of fixed-rate senior secured notes through a privately placed securitization, with closing expected on or around December 15, 2025. Proceeds are mainly intended to repay in full the Series 2022-1 Class A-2-I Notes, which had a principal balance of approximately $410 million as of September 30, 2025, so the deal is a refinancing that replaces existing debt rather than adding a new obligation of that size.
Key points
- Two tranches: $400 million at 5.274% with a five-year anticipated repayment term, and $350 million at 5.649% with a seven-year anticipated repayment term
- Proceeds to repay the Series 2022-1 Class A-2-I Notes (about $410 million principal as of September 30, 2025), fund transaction costs and reserve accounts, and for general corporate purposes that may include share repurchases
- Company also expects a $75 million variable funding note facility, alongside the existing $75 million 2022-1 Class A-1 variable funding notes, with no borrowings outstanding as of September 30, 2025
- Closing expected on or around December 15, 2025, subject to closing conditions; the company states there is no assurance of timing or completion
The filing
Written by AI on Nov 8, 2026, 2:07 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 05, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.