Equinox Explores $1B+ Loan To Refinance Debt, Reports Say
With a looming debt of around $1.5B coming due, Equinox is reportedly looking to raise a mix of new debt and preferred equity
Luxury fitness club operator Equinox Holdings is currently mulling its options to refinance upcoming debt maturities, including securing a $1.3 billion loan in the private credit market, according to reports by The Wall Street Journal and Bloomberg attributing anonymous insiders familiar with the matter.
The NYC-based “temple of well-being” launched in 1991, since growing to over 300 locations across the U.S., Canada and London with its signature clubs and fitness brands such as Pure Yoga, Blink Fitness and SoulCycle. The brand has also branched out to include luxurious experiences with Equinox Hotels. Recently, Equinox has partnered with a spate of leading brands across fitness, wellness, fashion, food and travel, offering its members exclusive perks like a co-branded Rest & Recovery Kit with Oura.
Equinox has been in talks to raise approximately $400 million in preferred equity as part of the financing and is reportedly working with Centerview Partners and Goldman Sachs as it explores its options.
As WSJ notes, citing a research report last month from Moody’s Investors Service, Equinox has a $76 million revolver maturing in January, a $1.2 billion loan maturing in March, and a $200 million junior loan to be repaid in September.
Last year, Equinox received some criticism for its “It’s not you, it’s January” marketing move where new members who wished to join its fitness clubs on January 1 would be turned away and prompted to join the following day.
Equinox did not immediately respond for comment.
