Peloton increases revolver to $500 million, pushes out maturity date

By Wendy Van Sickle

Columbus, Ohio, Dec. 13 – Peloton Interactive, Inc. entered into a second amendment to its credit agreement dated June 20, 2019 with JPMorgan Chase Bank, NA as administrative agent, bookrunner and lead arranger on Friday, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases the commitments of the revolver to $500 million from $285 million and extends the maturity date of $465 million of commitments to Dec. 10, 2026, with $35 million expiring on June 20, 2024.

The credit agreement contains financial condition covenants, including a total level liquidity of at least $250 million and a minimum total four-quarter revenue of $3 billion.

Barclays, Citibank, NA and Goldman Sachs Bank USA are the joint syndication agents.

Peloton is a New York-based exercise and media company.

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