Basic-Fit’s EUR 303.7 Million Capital Raise

Clifford Chance advised Basic-Fit N.V. on the deal.

Basic-Fit N.V. raised capital through an offering of senior unsecured convertible bonds due 17 June 2028. Basic-Fit is Europe’s largest and fastest growing fitness operator, currently operating 955 clubs in five countries.

Upon exercise of conversion rights by the bondholders, and unless previously redeemed or purchased and cancelled, the bonds will be convertible into new and/or existing ordinary shares of Basic-Fit. The net proceeds of the offering will be used for general corporate and refinancing purposes and to provide the Company with the financial flexibility to accelerate the execution of its growth strategy.

The Clifford Chance team was led by Paul Deakins (Picture) in London, and consisted of Tineke Kothe, Han Teerink, Nolan Groenland and Lisa Ye in Amsterdam.

Involved fees earner: Paul Deakins – Clifford Chance; Nolan Groenland – Clifford Chance; Tineke Kothe – Clifford Chance; Han Teerink – Clifford Chance; Lisa Ye – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Basic-Fit;

Author: Federica Tiefenthaler