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Peloton secures USD 1.35 billion in debt funding to refinance existing debts
Connected Fitness
May 30, 2024
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Connected Fitness

Connected Fitness

May 30, 2024

Peloton secures USD 1.35 billion in debt funding to refinance existing debts

Funding

  • Peloton, a connected bikes, treadmills, fitness mirrors, and rowers manufacturer, announced securing USD 1.35 billion in refinancing. The refinancing transactions included closing a new five-year syndicated loan of USD 1 billion, which consisted of securing a USD 100 million revolving credit facility with J.P. Morgan and Goldman Sachs and raising USD 350 million from new and existing investors through an upsized private offering of convertible senior notes due in 2029. The funds secured will be used to reduce overall debt, extend debt maturities, and seek more flexible loan terms.

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