Life Time Fitness, LTF Merger Sub Announce Offering Of $600 Mln Of Senior Notes

(RTTNews) - Life Time Fitness, Inc. (LTM), The Healthy Way of Life Company, and LTF Merger Sub, Inc., controlled by affiliates of Leonard Green & Partners and TPG Capital, L.P., announced that the Issuer intends to privately offer $600 million in aggregate principal amount of its senior notes due 2023.

The company said net proceeds from the offering of the Notes will be used to fund a portion of the acquisition of Life Time by affiliates of Leonard Green & Partners, TPG Capital, L.P. and LNK Partners, and to pay certain related fees, commissions and expenses. Life Time will assume all of the obligations of the Issuer under the Notes upon the consummation of the Acquisition.

The notes being offered in the senior notes offering will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Notes are being offered only to qualified institutional buyers under Rule 144A and outside the United States in compliance with Regulation S under the Securities Act.