Loan & DebtJun 16, 2026, 05:31 PM
Whirlpool Issues $2B in Senior Secured Notes, Enters New Credit Facility
AI Summary
Whirlpool Corporation announced the issuance of $2 billion in aggregate principal amount of Senior Secured Second Lien Notes, comprising $1 billion of 7.500% notes due 2031 and $1 billion of 7.875% notes due 2034. The company also entered into a new asset-based revolving credit facility. The net proceeds from the notes issuance will be used to fund a concurrent tender offer for its existing 2026 and 2027 Senior Notes, repay an existing unsecured revolving credit facility, and cover related fees and expenses.
Key Highlights
- Whirlpool issued $2 billion in aggregate principal amount of Senior Secured Second Lien Notes due 2031 and 2034.
- The 2031 Notes bear an interest rate of 7.500% and mature on July 1, 2031.
- The 2034 Notes bear an interest rate of 7.875% and mature on July 1, 2034.
- Proceeds will be used to pay for tendered 2026 and 2027 Senior Notes, repay an existing unsecured revolving credit facility, and cover associated fees.
- Whirlpool also entered into a new asset-based revolving credit facility (ABL Credit Facility).
Price Impact
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