Peloton to Launch Global Refinancing 3 Weeks After Beginning Restructuring
PTONPeloton(PTON) pymnts.com·2024-05-21 07:26

Peloton Interactive plans to launch a global refinancing. The connected fitness company will offer 275millionaggregateprincipalamountofconvertibleseniornotesdue2029inaprivateofferingandenterintoa275 million aggregate principal amount of convertible senior notes due 2029 in a private offering and enter into a 1 billion five-year term loan facility and a 100millionfiveyearrevolvingcreditfacility,PelotonsaidinaMonday(May20)pressrelease.Pelotonintendstousethenetproceedsofthenotesandthecreditfacilities,togetherwithcashonhand,torepurchaseapproximately100 million five- year revolving credit facility, Peloton said in a Monday (May 20) press release. “Peloton intends to use the net proceeds of the notes and the credit facilities, together with cash on hand, to repurchase approximately 800 million o ...