Life Time Announces $1.4B Refinancing Plan with New Notes and Loans
Portfolio Pulse from Benzinga Newsdesk
Life Time Group Holdings, Inc. (NYSE:LTH) announced a $1.4 billion refinancing plan involving $400 million in senior secured notes and $1 billion in new term loans. The proceeds will be used to discharge existing notes due in 2026.
October 21, 2024 | 12:00 pm
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Life Time Group Holdings is undertaking a $1.4 billion refinancing plan, issuing $400 million in senior secured notes and securing $1 billion in new term loans. This move aims to manage existing debt by discharging notes due in 2026.
The refinancing plan is a strategic move to manage and extend the maturity of existing debt, which could improve the company's financial stability and investor confidence. This is likely to have a positive short-term impact on LTH's stock price.
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