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Latham & Watkins Advises Initial Purchasers in Peloton’s US$1 Billion Convertible Senior Notes Offering

February 12, 2021
Capital markets team represented the initial purchasers in the offering by the interactive fitness platform.

Peloton Interactive, Inc. (Peloton) (Nasdaq: PTON) has announced that it has closed its offering of 0% convertible senior notes due 2026 for gross proceeds of US$1 billion, including the full exercise of the US$125 million option to purchase additional notes granted by Peloton to the initial purchasers. The notes were only sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933. 

Latham & Watkins LLP represented the initial purchasers in the offering with a capital markets team led by New York partners Marc Jaffe, Ian Schuman, and Reza Mojtabaee-Zamani, with New York associates John Slater, Claire Solimine, James Dorian, Marc Langer, Shawn Noh, and Hera Liao. Advice was also provided on tax matters by New York partner Elena Romanova, with New York associate Michael Yu.