Hong Kong gym chain Pure is reported to have secured over $50 million in financing commitments, which will be used to reduce debt.

According to people familiar with the matter, Pure, a gym brand frequently visited by people in the Hong Kong financial community, has secured new financing commitments to help it pay off debts. The people said that once the paperwork is completed, the gym operator is expected to receive more than $50 million in funds. The investors include Primavera Capital Group and some existing shareholders such as FountainVest Partners. The people familiar with the matter said that the new funds, in the form of equity investment, will be used to help Pure repay a three - year private loan obtained from Primavera Capital Group in 2023, which will reduce Pure's outstanding debts by three - quarters. (Sina Finance)