Peloton Interactive, Inc. announced on November 10, 2026, the pricing of a private offering of senior secured notes. The company priced the notes at an aggregate principal amount of $700.0 million, up from the previously announced $600.0 million. These notes are due in 2032 and bear an interest rate of 8.625%, with interest payable semi-annually in arrears.
The offering is being conducted under Rule 144A and Regulation S, meaning the notes will only be sold to qualified institutional buyers and outside the United States. Peloton intends to use the net proceeds from the sale, combined with cash on hand, to repay all outstanding term loans under its existing $1.0 billion five-year term loan facility. Upon repayment, this existing facility will be terminated.
The closing of the offering is not contingent upon the entry into a new revolving credit facility or the repayment of the existing term loans. Any remaining net proceeds will be used for general corporate purposes, which may include the repurchase of Class A common stock, capital expenditures, working capital, acquisitions, and other business opportunities.
