, /PRNewswire/ -- Peloton Interactive, Inc. ("Peloton") (NASDAQ: ) today announced it has successfully completed a holistic refinancing that reduced overall debt, extended debt maturities and achieved more flexible loan terms. Peloton used net proceeds from the notes and new credit facilities, together with cash on hand, to strategically repurchase approximately of 0% convertible senior notes due in 2026 at a discount, to refinance its existing term loan and revolving credit facilities and to pay fees and related expenses.
"On behalf of the entire Peloton leadership team, we're delighted with the incredible show of support that we received from new and existing investors who contributed to our oversubscribed and competitively priced refinancing. Notably, we achieved our refinancing goals of modestly deleveraging and extending our maturities at a reasonable blended cost of capital," said , Chief Financial Officer of Peloton. "This successful outcome underscores the resilience of our subscription business and signifies a tremendous vote of confidence in Peloton's future.
We are now operating from stronger financial footing and are well positioned to continue to provide the best fitness experience for our Members and deliver sustainable, profitable growth for our shareholders." The Company worked with its lead banks, JP Morgan and Goldman Sachs, and its financial advisor, BDT & MSD Partners, to complete this holistic refinancing. This press release contains forward-looking state.
