White & Case advises Guggenheim Securities, LLC, as structuring agent, on Planet Fitness’s US$800 million whole-business securitization offering

Global law firm White & Case LLP has advised Guggenheim Securities, LLC, as structuring agent, on a US$800 million whole-business securitization issuance of Series 2024-1 notes by Planet Fitness, a franchisor of more than 2,000 fitness centers in all 50 US states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia.

The issuance comprises US$800 million Class A-2 senior secured notes that were issued in two tranches, US$425 million Class A-2-I 5.765% senior secured notes and US$375 million Class A-2-II 6.237% senior secured notes.

The White & Case team was led by Capital Markets partners David Thatch and Elizabeth Devine, and associates Mitchell Hoke, Nicholas Nosce and Janaki Balachandran (all in New York); Tax partner Sang I. Ji, counsel Isaac Tendler and associate Daniel Park (all in New York); Technology Transactions partners Arlene Arin Hahn (New York) and Linda Sim (Los Angeles), and associates Jarrah Al-Buainain and Jordan Hill (both in New York); Employment, Compensation & Benefits counsel Heidi Schmid (New York) and associate Tyrone Crawford (Washington, DC); Data, Privacy & Cybersecurity partner F. Paul Pittman and associate Andrew Hamm (both in Washington, DC); Commercial Litigation partners David Hille and Isaac Glassman (both in New York); International Arbitration counsel Jason Burgoyne and associate Joanna Anyanwu (both in Washington, DC); Real Estate partner David Pezza and associate Reilly Gaertner (both in Chicago); and Capital Markets partners Tom Falkus and Chris McGarry, counsel Adam Farrell and associate Aesha Shah (all in London). Law clerk Arianna Talaie also assisted on the matter.

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