Peloton enters $750M term loan, $500M revolver credit facility

PELOTON INTERACTIVE, INC.

$750M term loan due May 2027; $500M revolver ($35M due 2024, $465M due 2026).
Interest: ABR+5.50% or SOFR+6.50%; margin up 0.50% if no public rating by Nov 2022.
Obligations secured by substantially all assets; subsidiary guarantees may be required.
Covenants include min liquidity $250M, min revenue $3B, replaced by debt/EBITDA ratio upon EBITDA threshold.

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