10:58 AM EDT, 05/24/2024 (MT Newswires) -- Peloton Interactive ( PTON ) secured a $1 billion loan to refinance debt, including a 2026 bond, Financial Times reported late on Thursday, citing people briefed on the matter.

The five-year loan with an interest rate of about 12%, together with a recently issued $300 million convertible bond and a new $100 million revolving credit line, alleviates near-term financing concerns, the report said.

Peloton did not immediately respond to MT Newswires' request for comment.

Shares of the company eased 0.3% in recent Friday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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