Peloton Taking Out $1B Loan as Part of Refinancing Effort

May 21, 2024

On Monday, Peloton announced that it intends to enter into a series of financial transactions including a $1 billion, five-year loan, the issuance of $275 million in convertible senior notes and a $100 million, five-year revolving credit facility. In total, Peloton will get around $1.4 billion in new credit from the transactions.

The convertible senior notes will be issued to private investors and will be due in 2029. Peloton plans to use the proceeds of the notes offering and the credit facility, along with existing cash on hand, to repurchase around $800 million of its 0% convertible senior notes due in 2026, it said.  Athletech News