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Peloton(PTON.US)拟发行3亿美元可转换优先票据 以应对债务问题

Peloton (PTON.US) Plans to Issue $300 Million Convertible Senior Notes to Address Debt Problems

Zhitong Finance ·  May 22 19:25

Peloton Interactive announced the pricing of its privately issued convertible senior notes.

The Zhitong Finance App learned that Peloton Interactive (PTON.US) announced the pricing of its privately issued convertible senior notes. Currently, the troubled fitness equipment manufacturer is struggling to resolve its existing debt problems.

The company said it will issue $300 million convertible senior notes due in 2029 with an annual interest rate of 5.50%. Unless redeemed, repurchased, or converted early, these notes will expire on December 1, 2029. Peloton will not be able to redeem notes until June 7, 2027.

These notes will be converted at an initial conversion rate of 218.4360 shares of Peloton Class A common stock for every $1,000 note principal.

The offering is part of a global refinancing plan that also includes a $1 billion five-year term loan arrangement and a $100 million five-year revolving credit facility.

The initial purchaser of these notes has a 13-day option to purchase up to an additional $50 million in notes. The scale of this offering is higher than the previously announced $275 million, and is expected to bring Peloton's total revenue of around $300 million.

The fitness company will use the proceeds from this offering and the new credit facility, as well as cash on hand to repurchase approximately $800 million of 0.00% convertible senior notes due in 2026 and refinance existing term loans and revolving credit arrangements.

Peloton shares rose nearly 2% before the US market on Wednesday. Peloton shares rose sharply earlier this month due to reports that a number of private equity firms have been considering buying the online fitness company.

The translation is provided by third-party software.


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