Life Time cuts margin on $995M term loan

Life Time Group Holdings, Inc. amended its senior credit facilities through a Fifteenth Amendment to its Credit Agreement, refinancing its existing $995 million 2025 Term Loan Facility.

Rhea-AI Filing Summary

Life Time Group Holdings, Inc. amended its senior credit facilities through a Fifteenth Amendment to its Credit Agreement, refinancing its existing $995 million 2025 Term Loan Facility.

The amendment reduces the interest rate margin by 0.25% to 2.00%, and, together with existing interest rate swaps, results in an effective fixed interest rate of 5.409% on the 2025 Term Loan Facility. The loans were issued at par with no original issue discount, and the term loan’s maturity remains November 5, 2031, so the change primarily lowers ongoing borrowing costs while keeping the overall structure and maturity profile in place.

Insights

Credit markets and capital structure analyst

LTH trims borrowing costs on a large term loan without extending risk.

Life Time Group Holdings refinanced its $995 million 2025 Term Loan Facility, cutting the interest margin by 0.25% to 2.00%. With existing interest rate swaps, the effective fixed rate on this debt is now 5.409%, locking in lower interest expense.

The amendment keeps the loan’s November 5, 2031 maturity unchanged, so the company improves pricing without adding duration or original issue discount. This supports interest cost management while preserving the existing debt structure and lender relationships under the Credit Agreement.

Future company disclosures may quantify the annual interest savings from the margin reduction on the $995 million balance, helping investors assess how much this refinancing contributes to overall earnings and cash flow.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What credit facility did Life Time Group Holdings (LTH) refinance?

Life Time refinanced its existing $995 million 2025 Term Loan Facility through a Fifteenth Amendment to its Credit Agreement. The facility remains in place but now carries improved pricing terms, affecting the ongoing cost of the company’s long-term debt.

How did the amendment change Life Time (LTH)’s interest rate on the term loan?

The amendment reduced the interest rate margin on the $995 million 2025 Term Loan Facility by 0.25%, bringing the margin down to 2.00%. Combined with existing interest rate swaps, this results in an effective fixed interest rate of 5.409% on the borrowings.

Did Life Time (LTH) change the maturity of its 2025 Term Loan Facility?

No, the amendment did not change the loan’s maturity. The $995 million 2025 Term Loan Facility continues to mature on November 5, 2031, so the main impact is lower interest costs rather than an extension of the debt term.

Were there any discounts or premiums on the amended Life Time (LTH) term loan?

Loans under the amended 2025 Term Loan Facility were issued at par, meaning there was no original issue discount. This indicates the company did not take an upfront pricing concession to achieve the lower margin on its long-term borrowing.

What role do interest rate swaps play in Life Time (LTH)’s term loan pricing?

Interest rate swaps hedge the variable interest payments on the 2025 Term Loan Facility. Together with the reduced 2.00% margin, these swaps produce an effective fixed interest rate of 5.409%, providing more predictable debt service costs over the loan’s life.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/18/2025 - 04:13 PM Learn about SEC filing dates

0001869198FALSE00018691982025-08-182025-08-18

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): August 18, 2025

Life Time Group Holdings, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-40887

47-3481985

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

2902 Corporate Place

Chanhassen, Minnesota 55317

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (952) 947-0000

N/A
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class			Trading Symbol			Name of Each Exchange on Which Registered
Common stock, par value $0.01 per share			LTH			The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

    Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01. Entry into a Material Definitive Agreement.

On August 18, 2025, Life Time, Inc. (the “Borrower”) and certain of its wholly owned subsidiaries, each of which is a wholly owned subsidiary of Life Time Group Holdings, Inc., entered into that certain Fifteenth Amendment to Credit Agreement (the “Amendment”), which amended the existing credit agreement (as amended and restated, the “Credit Agreement”). The Amendment provides for a refinancing of the $995 million term loan facility (the “2025 Term Loan Facility”) to reduce the interest rate margin by 0.25% to 2.00%. With this reduction and as a result of the interest rate swaps that are hedging the variable interest payments on the 2025 Term Loan Facility, the effective fixed interest rate associated with the 2025 Term Loan Facility borrowings is now 5.409%. Loans under the 2025 Term Loan Facility were issued at par with no original issue discount. The 2025 Term Loan Facility continues to mature on November 5, 2031.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated into this Item 1.01 by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 above is incorporated by reference into this Item 2.03.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number						Description
10.1						Fifteenth Amendment to the Credit Agreement, dated as of August 18, 2025, by and among LTF Intermediate Holdings, Inc., Life Time, Inc., the subsidiary guarantors party thereto, the lenders party thereto, and Deutsche Bank AG New York Branch, as administrative agent.
104						Cover page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			Life Time Group Holdings, Inc.
Date: August 18, 2025			By:			/s/ Erik Weaver
						Erik Weaver
						Executive Vice President & Chief Financial Officer

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