Wayfair Proposes $400M Senior Secured Notes Due 2034
W•Wayfair LLC plans a private offering of $400 million aggregate principal of senior secured notes due 2034, backed by first-priority liens on assets securing its revolving credit facility. Net proceeds will partially repay existing indebtedness and support general corporate purposes, subject to market and other conditions.
1. Offering Details
Wayfair LLC intends to offer $400 million aggregate principal of senior secured notes due 2034 in a private placement to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. The notes will be fully and unconditionally guaranteed on a senior secured basis by Wayfair and certain domestic subsidiaries that currently guarantee the issuer’s revolving credit facility and existing senior secured notes.
2. Use of Proceeds and Security
Net proceeds from the offering will be used to repay a portion of existing indebtedness and for general corporate purposes, though the exact amounts, timing and terms of any repayments have not been determined. Both the notes and related guarantees will be secured by first-priority liens on the same assets that underlie Wayfair LLC’s senior secured revolving credit facility and existing secured debt.
