LTH reduces borrowing cost on $985 million term loan through Sixteenth Amendment to Credit Agreement
A term loan repricing at Life Time Group Holdings (NYSE: LTH) is in focus after an 8-K filed August 12, 2026 disclosed the Sixteenth Amendment to the company's Credit Agreement. The amendment trims the interest rate…
Key takeaways
- Life Time Group Holdings (NYSE: LTH) disclosed a Sixteenth Amendment to its Credit Agreement in an 8-K filed August 12, 2026, repricing its $985 million 2026 Term Loan Facility.
- The amendment cuts the interest rate margin by 25 basis points to 1.75%, and with existing interest rate swaps the effective fixed rate is now 5.159%.
- The refinanced loans were issued at par with no original issue discount, and the November 5, 2031 maturity is unchanged.
- No new capital is raised through the transaction; it is solely a carry-cost improvement.
- Deutsche Bank AG New York Branch serves as administrative agent, and CFO Erik Weaver signed the 8-K on August 13, 2026.
A term loan repricing at Life Time Group Holdings (NYSE: LTH) is in focus after an 8-K filed August 12, 2026 disclosed the Sixteenth Amendment to the company's Credit Agreement. The amendment trims the interest rate margin by 25 basis points to 1.75%. With interest rate swaps already hedging the facility's variable payments, the effective fixed rate on the $985 million 2026 Term Loan Facility now sits at 5.159%.
The repricing mechanics
Parties to the Sixteenth Amendment include LTF Intermediate Holdings, Inc., Life Time, Inc. as the Borrower, subsidiary guarantors, and lenders, with Deutsche Bank AG New York Branch serving as administrative agent. All subsidiaries involved are wholly-owned entities of Life Time Group Holdings. Loans under the refinanced facility were issued at par, with no original issue discount, and the maturity of November 5, 2031 is unchanged.
The 8-K covers two SEC items at once. Item 1.01 addresses entry into a material definitive agreement; Item 2.03 flags the amendment as creating a direct financial obligation for the registrant.
Reading the setup for LTH
A 25 basis point margin cut on a $985 million facility is a direct carry-cost improvement. No new capital comes in through this transaction. The execution at par, with no original issue discount, signals that lenders saw no need to price a credit concession into the deal.
The interest rate swaps are the mechanism that makes the 5.159% figure meaningful. The 2026 Term Loan Facility carries a floating rate; the swaps in place convert those variable payments to a fixed obligation. With the margin now at 1.75%, those swaps lock in 5.159% as the all-in cost. The prior effective rate is not stated in the filing; the rate history for the facility would require tracing earlier amendments on record with the SEC.
What to watch
Erik Weaver, Executive Vice President and Chief Financial Officer of Life Time Group Holdings, signed the 8-K on August 13, 2026. The complete Sixteenth Amendment is attached as Exhibit 10.1, which the filing designates as the controlling text. That exhibit, now on the public record with the SEC, is the next document in the chain.