Peloton Taps JPMorgan for $850 Million Loan Sale to Tackle Debt
- The US bank may launch the offering as soon as Monday
- Loan sounded out at 6.5 percentage points over benchmark rate
Peloton Interactive Inc. has hired JPMorgan Chase & Co. to raise around $850 million through a new loan sale that will refinance existing debt, according to people with knowledge of the matter.
The US bank has begun informally reaching out to potential investors about the term loan and plans to officially launch syndication on Monday, said the people, who asked not to be identified because the discussions are private.