Wayfair said it plans to raise $400 million through a private offering of senior secured notes due 2034, with proceeds earmarked to repay part of its existing debt and for general corporate purposes.
The notes will be issued by Wayfair LLC and will be fully and unconditionally guaranteed by Wayfair and certain domestic subsidiaries that already back the company’s senior secured revolving credit facility and existing senior secured notes. The new debt will sit on the same first-priority collateral package as those existing obligations.
Wayfair did not say how much of its current indebtedness it expects to retire, or when any repayment would occur. The company also did not disclose pricing terms for the notes. As a result of these announcements, the company's shares have moved -1.22% on the market, and are now trading at a price of $59.755. Check out the company's full 8-K submission here.
