Whirlpool priced $1B of 7.500% second-lien notes due 2031 and $1B of 7.875% notes due 2034, upsizing each tranche from $750M. Net proceeds plus ABL facility borrowings will refinance 2026 and 2027 senior notes, retire its unsecured revolver and cover related fees.
Whirlpool priced $1.0 billion of 7.500% Senior Secured Second Lien Notes due July 1, 2031 and $1.0 billion of 7.875% notes due July 1, 2034, upsizing each tranche from $750 million. Interest accrues from June 16, 2026 and is payable semi-annually in arrears.
Net proceeds from the notes, together with borrowings under the asset-based revolving credit facility, will fund a tender offer and consent solicitation to refinance all 1.250% senior notes due 2026 and 1.100% senior notes due 2027, repay outstanding revolver balances, and cover fees and expenses.
The notes and related indenture obligations are unconditionally guaranteed by all domestic and Canadian ABL borrowers or guarantors. They are secured on a second-priority basis by the same collateral backing the ABL facility, excluding certain domestic manufacturing facilities and subsidiary equity.
The offering is expected to close on June 16, 2026, contingent on the closing of Whirlpool’s proposed ABL Credit Facility and satisfaction of customary closing conditions.
