EQUNOX TL B 1L USD

Equinox Holdings Inc

Credit, Consumer


Highlights

The presenter is long 1st lien term loans of Equinox. He believes the business is more appealing than most in the “reopening basket,” given its 17-year history of revenue growth, brand loyalty, and well-positioned customer base. The company’s capital structure consists of ~$1B of 1st lien loans, and a $200M secondary term loan with less liquidity currently quoted around 60. While he finds the secondary term loans more attractive, he notes that due to the lack of availability, he is long the 1st lien loans.

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Idea Discussion

Commentor 1 - 2 weeks ago

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