---
title: "Peloton Eyeing $850M Loan to Refinance Debt Amid Private Sale Rumors"
url: https://burnaze.com/article/b6b4b347-c103-4b2f-9b3e-45c41d6b6a67
source: "Athletech News"
original_url: https://athletechnews.com/peloton-eyeing-800m-loan-to-refinance-debt/
author: "Courtney Rehfeldt"
category: "Fitness"
industry: "Fitness"
topics: ["Finance & M&A"]
published: 2024-05-17T00:17:37.000Z
modified: 2026-10-31T17:49:29.507Z
image: https://athletechnews.com/wp-content/uploads/2023/11/Peloton_shutterstock_2111437766.webp
---

# Peloton Eyeing $850M Loan to Refinance Debt Amid Private Sale Rumors

**TL;DR:** Peloton is seeking to refinance its debt with an $850 million loan, and has hired JPMorgan Chase to raise the funds. The company is also facing speculation of a potential private equity buyout, with discussions reportedly held with at least one firm.

*By Courtney Rehfeldt, originally published in Athletech News on 2024-05-17. [Read the original](https://athletechnews.com/peloton-eyeing-800m-loan-to-refinance-debt/).*

## Story

Peloton has hired JPMorgan Chase to raise roughly $850 million to refinance existing debt, per Bloomberg.

Sources close to the matter told the publication that the bank has started reaching out to potential investors regarding the term loan and plans to launch syndication on Monday. The bank is reportedly seeking a margin of 6.5 percentage points over the Secured Overnight Financing Rate, although sources say the terms of the financing and its size could change, according to Bloomberg.

The news follows Peloton CEO Barry McCarthy’s exit earlier this month and a major restructuring plan that includes staff reductions.

Peloton had recently stated it’s looking to reduce its annual expenses by over $200 million and noted its upcoming debt maturities (which consist of convertible notes and term loans) in its Q3 2024 letter to shareholders.

The troubled connected fitness brand said it had been working closely with JPMorgan and Goldman Sachs and its financial advisor, BDT & MSD Partners, on its refinancing strategy.

“We are encouraged by the support and inbound interest from our existing lenders and investors, and we look forward to sharing more about this topic,” McCarthy’s letter said.

Circumstances have grown grim for Peloton despite a rebrand and numerous attempts to reposition itself as a fitness content provider rather than a brand focused on bike and treadmill sales.

There has been speculation of a potential private equity buyout, with CNBC reporting last week that Peloton has had discussions with at least one firm — a headline that caused shares of PTON to spike.

As other connected fitness companies struggle in a post-pandemic environment that’s seen people return to gyms and studios in larger numbers than anticipated, Boston-based Hydrow recently made a rather interesting power play in the connected fitness space.

The at-home rowing brand is acquiring a majority stake in Speede Fitness, a strength training and analytics company, as it looks to evolve into a whole health brand and capitalize on the strength training trend. In the pipeline for 2025 is a digitally variable resistance product with adaptive feedback.

## Entities

- Fitness (sector)
- Athletech News (publication)
- fitness industry (topic)
- private equity (topic)
- Courtney Rehfeldt (person)
- Peloton (company)
- Goldman Sachs (company)
- JPMorgan Chase (company)
- debt refinancing (topic)
- BDT & MSD Partners (investor)
- restructuring plan (topic)
- loan financing (topic)

---
Originally reported by Courtney Rehfeldt, Athletech News (https://athletechnews.com/peloton-eyeing-800m-loan-to-refinance-debt/). Summarized by Burnaze (https://burnaze.com/article/b6b4b347-c103-4b2f-9b3e-45c41d6b6a67).