Peloton launches $600 million senior secured debt offering
PTON•Peloton launched a private offering of $600 million in senior secured notes due 2032. It plans to use the proceeds and cash on hand to repay all term loans under its existing $1 billion facility, which will be terminated, as part of a refinancing that also includes a proposed $200 million revolving credit facility.
1. Debt refinancing
Peloton launched a private offering of $600 million in senior secured notes due 2032. Proceeds and cash on hand will repay all outstanding term loans under its existing $1 billion facility, which will be terminated. The refinancing also includes a proposed $200 million, five-year revolving credit facility. Interest on the notes will be payable semiannually in arrears, with the rate determined at pricing.
