Penfund Partners, Inc. provides $100 million second lien credit facility to Goodlife Fitness Centres Inc.
|Areas||Banking and Finance Law|
Goodmans represented Penfund in connection with a $100 million second lien credit facility to Goodlife Fitness Centres Inc.
GoodLife is the largest fitness club operator in Canada, operating more than 400 clubs under the banners of GoodLife Fitness, Fit4Less, and Éconofitness. GoodLife is also the fourth largest operator of fitness clubs in the world.
This matter was a large 2nd lien financing by a leading provider of junior debt capital based in Canada. Penfund has a long relationship with GoodLife and has provided over $430 million of junior debt to GoodLife over many years. Goodmans has represented Penfund on a number of those financings.