Peloton Interactive launches $1bn loan to refinance debt amid sales slump.

Peloton Interactive has launched a $1bn loan to refinance existing debt as it seeks to recover from a recent slump in sales. The fitness company, known for its pricey stationary bikes and treadmills, will use the proceeds to refinance a term loan due in 2027 and repurchase some convertible notes due in 2026. The company plans to sell a further $275m of senior convertible notes due in 2029.