Reported Earlier, Peloton Interactive Prices $300M Offering Of 5.50% Convertible Senior Notes Due 2029, Upsizing From Initial $275M

Author: Benzinga Newsdesk | May 22, 2024 02:47am

Peloton intends to use the net proceeds of the offering of the notes and the new credit facilities, together with cash on hand, to repurchase approximately $800.0 million of its 0.00% convertible senior notes due 2026 (the "Existing Notes"), to refinance its existing term loan and revolving credit facilities and to pay fees and expenses related thereto. The closing of the offering, the entry into the new credit facilities and the repurchase of the Existing Notes are not cross-conditioned upon each other, except the entry into the new credit facilities is conditioned upon the repurchase of at least $800.0 million aggregate principal amount of the Existing Notes.

Posted In: PTON