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Goldman Sachs Proposes Petco Debt Refinancing Amid Financial Growth
A pedestrian walks a dog past a Petco store located in New York’s Upper West Side.
Photographer: Angus Mordant/Bloomberg
By Reshmi Basu and Gowri Gurumurthy — October 24, 2025, 6:41 PM UTC
Goldman Sachs Group Inc. is currently assessing investor interest in a refinancing debt package aimed at Petco Health & Wellness Company, which has a term loan amounting to approximately $1.6 billion. This initiative comes as Petco’s financial health has shown signs of improvement, according to sources familiar with the discussions.
According to insiders who wished to remain anonymous due to the confidential nature of the talks, Goldman Sachs has been reaching out to investors for feedback regarding the structure and pricing of the proposed refinancing. Initial conversations suggest the potential for bonds with an interest rate ranging from 8% to 9%, alongside a term loan component estimated at about 4.25 percentage points above the benchmark rate. These securities may be offered at a slight discount to attract investors.
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Source: Original