Planet Fitness (PLNT) Strengthens Financial Strategy with $750 Million Note Issuance

Planet Fitness Bolsters Financial Strategy with New Note Issuance

Planet Fitness, Inc., a prominent player in the global fitness franchise sector, announces the pricing of $750 million in Series 2025-1 Class A-2 Fixed Rate Senior Secured Notes. This strategic financial maneuver consists of two tranches: the Class A-2-I Notes, which total $400 million with a five-year repayment term and a fixed interest rate of 5.274%, and the Class A-2-II Notes, amounting to $350 million with a seven-year repayment term at a fixed interest rate of 5.649%. The issuance is conducted through Planet Fitness Master Issuer LLC, a subsidiary dedicated to managing the company’s debt obligations. This initiative signifies a robust approach to streamline its financial operations and enhance liquidity within a competitive fitness market.

The proceeds from the Class A-2 Notes are earmarked for multiple purposes, including the repayment of the Series 2022-1 Class A-2-I Notes, which had a principal balance of approximately $410 million as of September 30, 2025. This repayment strategy not only alleviates existing financial burdens but also optimizes Planet Fitness's capital structure. Additionally, the company allocates funds for transaction costs and general corporate purposes, which may encompass potential share repurchases. Such measures reflect Planet Fitness's ongoing commitment to maintaining a strong balance sheet while investing in its growth potential, especially as it serves around 20.7 million members across 2,795 clubs globally.

The anticipated closing of this transaction is around December 15, 2025, subject to various conditions. It is noteworthy that the Class A-2 Notes are being offered in a private placement and are not registered under the Securities Act of 1933, highlighting the company's approach towards positioning itself favorably in the financial landscape. This development comes at a crucial time as Planet Fitness continues to expand its footprint not only in the United States but also internationally, further solidifying its status in the fitness industry.

In conjunction with the new note issuance, Planet Fitness plans to enter into a $75 million variable funding note facility, complementing its existing $75 million variable funding notes. This additional funding mechanism will provide further financial flexibility, allowing the company to adapt to changing market conditions and pursue growth opportunities effectively.

As a leading fitness operator founded in 1992, Planet Fitness's strategic financial decisions are essential in sustaining its growth trajectory and enhancing its service offerings to its extensive member base. With a presence in all 50 states and several countries, the company remains well-positioned to capitalize on the growing demand for fitness services.