Peloton Interactive Stock Tumbles As Company Takes Steps to Rework Debt

Key TakeawaysPeloton Interactive announced what it called a "global refinancing" plan to deal with its debt.The provider of exercise equipment and workout services will sell $275 million in notes, and enter into a $1 billion loan facility and $100 million revolving credit facility.Peloton said the money would be used to pay off and refinance current debt, and cover fees.Shares of the company were down more than 15% Tuesday afternoon. Peloton Interactive (PTON) shares plunged Tuesday after the struggling fit ...