Penfund provides $100 mln facility to GoodLife Fitness Centres
Canadian junior capital provider Penfund has closed a $100 million second lien credit facility provided to GoodLife Fitness Centres Inc, a London, Ontario-based fitness club operator. The deal's proceeds, combined with the proceeds of a $310 million first lien term loan and revolving credit facility provided by a syndicate of banks, will be used to refinance debt. Penfund has provided and arranged more than $430 million for GoodLife in seven financings. Founded in 1979 by CEO David Patchell-Evans, GoodLife operates 400 clubs across Canada and has more than 1.5 million members. In December, Penfund wrapped up its sixth mid-market fund, Penfund Capital Fund VI, raising $1.15 billion.
21 February 2019•3 mins read
