Whirlpool (NYSE: WHR) upsizes and prices $2B senior secured second lien notes
Whirlpool Corporation has upsized and priced a private offering of $2.0 billion in senior secured second lien notes, consisting of $1.0 billion of 7.500% notes due 2031 and $1.0 billion of 7.875% notes due 2034. The proceeds, along with new asset-based revolving credit facility borrowings, will be used to tender for and discharge existing lower-coupon notes due in 2026 and 2027, repay an unsecured revolving credit facility, and cover related fees. This move aims to extend maturities despite increasing coupon costs, with the net impact dependent on future operational performance and leverage.
https://www.stocktitan.net/sec-filings/WHR/8-k-whirlpool-corp-de-reports-material-event-01273eb72346.html