Politics
Peloton Draws $6.8 Billion of Demand for Debut Junk-Bond Sale
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Peloton Draws $6.8 Billion of Demand for Debut Junk-Bond Sale Peloton Interactive Inc. has attracted strong investor demand for its debut junk-bond sale, allowing the fitness company to boost the deal’s size and slash borrowing costs. Investors placed more than $6.8 billion of orders on the offering, increased by $100 million to $700 million, according to people familiar with the matter. Pricing on the deal tightened to a yield of 8.625%, compared with initial talk in the low-to-mid 9% area,...
Peloton Draws $6.8 Billion of Demand for Debut Junk-Bond Sale
Peloton Interactive Inc. has attracted strong investor demand for its debut junk-bond sale, allowing the fitness company to boost the deal’s size and slash borrowing costs.
Investors placed more than $6.8 billion of orders on the offering, increased by $100 million to $700 million, according to people familiar with the matter. Pricing on the deal tightened to a yield of 8.625%, compared with initial talk in the low-to-mid 9% area, the people said, asking not to be identified because they’re not authorized to speak publicly.