Peloton completes $350M convertible note offering and $1.1B credit facility refinancing

PELOTON INTERACTIVE, INC.

Priced $300M (plus $50M over-allotment) of 5.50% Convertible Senior Notes due 2029; net proceeds ~$343M.
Used net proceeds to repurchase ~$350M of existing 0.00% convertible notes due 2026.
Priced $1.0B term loan facility and $100M revolver, replacing existing; close expected May 30, 2024.
Initial conversion price ~$4.58 per share, a 40% premium to May 21 close of $3.27.
Up to ~107M shares may be issued upon conversion based on maximum Make-Whole Fundamental Change rate.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.