• Peloton, a manufacturer of connected bikes, treadmills, and fitness mirrors, has raised USD 750 million in debt financing led by JPMorgan Chase, with participation from Apollo, Blackstone, and other institutional investors. 

• The company plans to utilize the financing to support its business plan that aims to improve the company’s financial performance and profitability through cost cuts, placing more emphasis on subscription-based revenue and better supply chain management.

<ul><li> Analyst QuickTake: Peloton’s debt financing followed its Q3 FY2022 earnings release last week, in which the company reported an EBITDA loss compared to profits recorded over the same period last year. Today’s debt funding would help the company to shift its business back to profitability over the upcoming quarters.</ul>