Whirlpool Corporation announced the pricing of an upsized private offering of $2.0 billion in aggregate principal amount of Senior Secured Second Lien Notes. The offering, increased from a previously announced $1.5 billion, is intended to refinance existing debt and repay borrowings under its credit facility.
Key Details
- Offering Breakdown: The offering consists of two tranches: $1.0 billion of 7.500% Senior Secured Second Lien Notes due 2031 and $1.0 billion of 7.875% Senior Secured Second Lien Notes due 2034.
- Use of Proceeds: Net proceeds will primarily be used to fund a tender offer for existing 1.250% Senior Notes due 2026 and 1.100% Senior Notes due 2027, as well as to repay outstanding amounts under the company's existing revolving credit facility.
- Timeline: The offering is expected to close on or about June 16, 2026, subject to customary closing conditions.