PureGym  6.375% 15 Feb 2025

Business Description

Founded in 2008, PureGym is the largest operator of gyms in the UK. The company operates over 200 gyms with more than one million members. This is 50% more members and gyms than the next largest private UK gym operator.

PureGym pioneered the low cost, high quality fitness experience and has a customer centric proposition, offering affordable 24/7 gym access with flexible membership.

On 30 November 2017, PureGym was acquired by Leonard Green & Partners for £600 million.

Bond Information

Coupon

6.375%

Maturity Date

15 Feb 2025

Next Interest Payment

15 Feb 2020

Interest Period

6 months

ISIN

XS1756633126

Asset Security

Senior Secured

Amount

£390,000,000

Ratings

S&P:  B, Moody's:  B2, Fitch:  B+

Call Schedule

25 Feb 2021 at 103.188
25 Feb 2022 at 101.594
25 Feb 2023 at 100

Status

Payments on time

* Current Yield and Yield to Maturity are on estimated return calculations and not guaranteed. All yields shown are gross of Taxation and our Service Fee.

Company Information

Company Legal Name

Pinnacle Bidco plc

Industry

Retail

Country of Origin

UK

Year of Incorporation

2008

Ownership Status

Private

Capital Structure

Senior Debt 39%

Equity 61%

Cash

-1.2%

Senior Notes (combined)

6.2%

Content Liabilities

12.0%

Net Debt

17.0%

Equity

83.0%

Enterprise Value

100.0%

EDITDA

£883,000,000

Cash interest

£226,400,000

Source: Public Company Information

* An asterisk next to an item indicates there is additional information available if you hover over it. You can also find a definition of the terms used on this page in our Glossary.

Based on 30 Nov 2017 acquisition of Pure Gym by Leonard Green & Partners

Key Financials

Revenues

11,607

Growth %

38.1%

EDITDA

1,681

Margin %

14.5%

Cash balance

3,067

Source: Public Company Information

Reports & Information

Throughout our site you will find links to external websites. Although we make every effort to ensure these links are accurate, up to date and relevant, we cannot take responsibility for pages maintained by external providers.

Throughout our site you will find links to external websites. Although we make every effort to ensure these links are accurate, up to date and relevant, we cannot take responsibility for pages maintained by external providers.

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