Penfund Leads Expansion Financing for GoodLife Fitness Centres

Penfund, a provider of junior capital to middle market companies in North America, has completed a $40 million expansion of the existing $125 million subordinated secured credit facility provided to GoodLife Fitness Centres by a group of lenders in March 2011. The proceeds of the expansion financing will be used by GoodLife to finance the acquisition of 13 fitness clubs in the Greater Toronto Area previously owned by Extreme Fitness Inc and to finance other growth initiatives.

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