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Basic-Fit N.V. — Capital/Financing Update 2018
Jul 2, 2018
3818_iss_2018-06-29_2052cc26-955b-4841-85f1-5543fb6c3db0.pdf
Capital/Financing Update
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BASIC-FIT AMENDS AND EXTENDS ITS TERM AND REVOLVING FACILITIES AGREEMENT
Amendment extends maturities to June 2023 and lowers the cost of capital
Hoofddorp, 29 June 2018 - Basic-Fit has successfully completed an amend and extend of its existing facilities agreement, taking advantage of current favourable market conditions. The facilities agreement consists of a €250 million term loan and a €200 million revolving facility. As a result of the amendment, the maturities of both the term and revolving credit facilities have been extended to June 2023. In addition, Basic-Fit was able to reduce the margin on both facilities, reflecting Basic-Fit's strong financial performance over the past few years.
The amendment was achieved with the continued support of Basic-Fit's core relationship banks: ABN AMRO, Rabobank, ING and KBC. Basic-Fit also welcomed a new relationship bank, BNP Paribas, to join the existing syndicate. Basic-Fit was advised by NautaDutilh throughout the process, while Rabobank acted as coordinator and documentation agent.
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About Basic-Fit
With 533 clubs, Basic-Fit is the largest fitness operator in Europe. We operate in five countries and in our clubs, more than 1.6 million members can work on improving their health and fitness. Basic-Fit operates a straightforward membership model and offers a high-quality, value-for-money fitness experience that appeals to the fitness needs of all active people who care about their personal health and fitness. A typical subscription costs €19.99 and gives people access to all our clubs in Europe and a pass which can be shared with family members.
FOR MORE INFORMATION
Richard Piekaar +31 (0)23 302 23 85 [email protected]