Peloton fell about 3.6% pre-market as it seeks to refinance debt

Gelonghui, May 21 | US social fitness platform Peloton Interactive (PTON.US) US stocks fell about 3.6% before the market opened, to US$3.77

Gelonghui, May 21 | U.S. social fitness platform Peloton Interactive (PTON.US) U.S. stocks fell about 3.6% before the market opened, to $3.77.
According to the news, the company is seeking to refinance its debt and will sell US$275 million of convertible senior notes due in 2029 in a private offering.
The company is trying to regain its footing amid lower sales due to uncertainty about demand.
Additionally, the company entered into a $1 billion five-year term loan agreement and a $100 million five-year revolving credit agreement.
Proceeds will be used to repurchase approximately $800 million of convertible senior notes due in 2026 and to refinance existing term loans.

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