Whirlpool said it plans to raise $1.5 billion through a pair of senior secured second-lien note offerings, splitting the deal into $750 million of notes due 2031 and $750 million due 2034.
The company said the proceeds, along with borrowings from a new asset-based revolving credit facility, will be used to fund a tender offer for its 2026 and 2027 senior notes, discharge any of those notes left outstanding, repay borrowings under its existing unsecured revolver and cover fees and expenses.
Whirlpool said the new notes will be guaranteed by each domestic and Canadian subsidiary that borrows under, or guarantees obligations under, the new ABL facility. The notes will be secured on a second-priority basis by assets that already secure the ABL facility on a first-priority basis.
The company’s 2026 notes carry a 1.250% coupon and its 2027 notes carry a 1.100% coupon. Whirlpool said the financing package is aimed at retiring those obligations and replacing them with longer-dated debt.
In its latest company description, Whirlpool said it generated about $16 billion in annual net sales in 2025, with roughly 90% of that total coming from the Americas. It also said it had 41,000 employees and 35 manufacturing and technology research centers. Following these announcements, the company's shares moved -1.28%, and are now trading at a price of $42.865. If you want to know more, read the company's complete 8-K report here.
