Clifford Chance

Clifford Chance advises Basic-Fit on its EUR 303.7 million capital raise through an offering of senior unsecured convertible bonds

Clifford Chance advised Dutch listed company Basic-Fit N.V. on its EUR 303.7 million capital raise 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 in London, and consisted of Tineke Kothe, Han Teerink, Nolan Groenland and Lisa Ye in Amsterdam.