Peloton secures $1B loan as its works to support its finances, FT reports

Peloton secured a $1B loan, allowing the company to shore up its finances, Eric Platt of The Financial Times reports, citing people briefed on the matter. While at one point the company was valued at $50B, it has since faltered as consumers emerged from the pandemic, crimping demand for its products. The $1B five-year loan will allow the company to refinance debts that mature in the next few years.