2 September 2019
Gernandt & Danielsson advises Fitness First Germany in LifeFit Groups’s issue of corporate bonds
Gernandt & Danielsson advises Fitness First Germany GmbH in LifeFit Group's ("LifeFit") issue of corporate bonds in the initial amount of EUR 40 million within a framework amount of EUR 120 million. The proceeds from the bond issue has contributed to the financing the acquisition of smile X and will also be applied towards general corporate purposes. LifeFit intends to apply for admission of trading of the bonds firstly at the Open Market of the Frankfurt Stock Exchange and subsequently at the corporate bond list of Nasdaq Stockholm.
LifeFit is a leading fitness and health platform in Germany, uniting several fitness brands under one roof. The brand Fitness First with more than 60 clubs is the largest fitness service provider of LifeFit, offering a large variety of concepts for approximately 235,000 members. The brand portfolio also includes the brands ELBGYM, smile X, The Gym Society, Barry's Bootcamp and the fitness app NewMoove.
Gernandt & Danielsson has advised Fitness First Germany GmbH, LifeFit and its financial advisor, Pareto Securities AB with a team consisting of Partner Mikael Borg, Senior Associate Mikael Bolling and Associate Camilla Hedner.