Loan & DebtJun 2, 2026, 05:31 PM
Whirlpool Prices Upsized $2.0B Senior Secured Notes Offering
AI Summary
Whirlpool Corporation announced the pricing of an upsized private offering of $2.0 billion in aggregate principal amount of senior secured second lien notes. This includes $1.0 billion of 7.500% notes due 2031 and $1.0 billion of 7.875% notes due 2034. The company intends to use the net proceeds, along with borrowings from a new ABL Credit Facility, to pay for existing notes in a tender offer, satisfy remaining existing notes, and repay its existing unsecured revolving credit facility.
Key Highlights
- Priced $2.0 billion aggregate principal amount of Senior Secured Second Lien Notes.
- Offering was upsized from a previously announced $1.5 billion.
- Includes $1.0 billion of 7.500% Senior Secured Second Lien Notes due 2031.
- Includes $1.0 billion of 7.875% Senior Secured Second Lien Notes due 2034.
- Proceeds will fund a tender offer for 2026 and 2027 Existing Notes.
- Proceeds will also repay the company's existing unsecured revolving credit facility.
- Notes are secured by a second-priority lien on certain assets of the company and guarantors.
- Offering was made via private placement to qualified institutional buyers and non-U.S. persons.
Price Impact
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