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Basic-Fit N.V. Capital/Financing Update 2023
3818_iss_2023-06-14_8e4e8ab8-7292-4d86-966e-550f1cea79a4.pdf
Capital/Financing Update
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BASIC-FIT PRESS RELEASE
BASIC-FIT AMENDED AND EXTENDED ITS TERM AND REVOLVING FACILITIES AGREEMENT, FURTHER SOLIDIFYING ITS BANK FINANCING
CITIBANK ENTERS BANK SYNDICATE
Hoofddorp, 14 June 2023 – Basic-Fit has successfully completed an amend and extend of its existing term and revolving facilities agreement.
- Total of term and revolving facilities increased to €650 million
- Maturity extended by two years to June 2027; option to extend by two years to 2029
- New uncommitted accordion option of €150 million
- Margin ratchet increased by 25bps
The amended and extended facilities agreement consists of a €250 million term loan and a €400 million revolving facility, totalling €650 million. This is an increase of €50 million compared to the total committed facilities before the agreement was amended and extended. In addition to the term loan and revolving facilities, the agreement includes a new uncommitted revolving facility accordion of up to €150 million.
The maturities of both the term and revolving credit facilities have been extended to June 2027, with the option to request further extensions by one year in each of the coming two years to ultimately 2029. The margins in the ratchet on both facilities haven been increased by 25 basis points, reflecting the current lending environment.
The amendment was achieved with the continued support of Basic-Fit's relationship banks: Rabobank, ABN AMRO Bank, ING Bank, BNP Paribas and KBC Bank. In addition, we are pleased to welcome Citibank as a new syndicate member, participating in the amend and extend of the facility agreement. Rabobank and ABN AMRO acted as documentation agent and coordinator.
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MORE INFORMATION:
Basic-Fit Investor Relations [email protected]
ABOUT BASIC-FIT
With over 1,285 clubs in six countries, Basic-Fit is the largest and fastest growing fitness operator in Europe and market leader in 5 markets. More than 3.6 million members can work on improving their health and fitness in our clubs. 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 people who care about their personal health and fitness.
