RBS funding helps health chain strengthens its core
Bannatyne Fitness, a chain of health and fitness clubs, has secured a refinancing package of £35m through the Royal Bank of Scotland.
The funding is being used to refinance existing debt from Irish Bank Resolution Corporation (IBRC), alongside funding from a ground lease transaction with a large investment house to support this successful leisure brand’s future development.
Bannatyne Fitness Limited is part of the Bannatyne Group – the UK’s largest health club operator with 59 sites and 170,000 members across the UK, with a commitment to providing its members with the best possible facilities.
Mr Duncan Bannatyne, Chairman of the Bannatyne Group, said:
Neil Parry, Head of Consumer Industries RBS, adds: