Reported Earlier, Peloton Interactive Prices $300M Offering Of 5.50% Convertible Senior Notes Due 2029, Upsizing From Initial $275M
Portfolio Pulse from Benzinga Newsdesk
Peloton Interactive has priced a $300 million offering of 5.50% convertible senior notes due 2029, upsizing from the initial $275 million. The proceeds will be used to repurchase $800 million of its 0.00% convertible senior notes due 2026, refinance existing credit facilities, and cover related fees and expenses.
May 22, 2024 | 6:48 am
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Peloton Interactive has announced a $300 million offering of 5.50% convertible senior notes due 2029, an increase from the initial $275 million. The company plans to use the proceeds to repurchase $800 million of its 0.00% convertible senior notes due 2026, refinance existing credit facilities, and cover related fees and expenses.
The upsized offering and strategic use of proceeds to manage debt and refinance credit facilities indicate a proactive approach to financial management. This could positively impact investor sentiment and short-term stock price.
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