Peloton Interactive, Inc. Announces Upsize and Pricing of Offering of $700.0 Million 8.625% Senior Secured Notes Due 2032
Key Highlights
- ➤Peloton (PTON) upsized senior secured notes offering to $700.0 million from $600.0 million
- ➤8.625% notes due 2032 expected to generate approximately $700.0 million gross proceeds
- ➤Proceeds plus cash on hand will repay all loans under existing $1.0 billion term facility
- ➤Proposed refinancing also includes a new $200.0 million five-year revolving credit facility
- ➤Note sale is expected to settle November 20, 2026, subject to customary closing conditions
Peloton Interactive, Inc. Announces Upsize and Pricing of Offering of $700.0 Million 8.625% Senior Secured Notes Due 2032
Peloton Interactive, Inc. (“Peloton”) (NASDAQ: PTON) today announced the upsize and pricing of $700.0 million aggregate principal amount of 8.625% senior secured notes due 2032 (the “notes”) in a private offering (the “offering”) (i) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the “Securities Act”) and (ii) outside the United States pursuant to Regulation S under the Securities Act by means of a private offering memorandum (the “offering memorandum”). The size of the offering was increased from the previously announced $600.0 million aggregate principal amount.
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