Whirlpool Announces Offering of Secured Notes
PR Newswire
BENTON HARBOR, Mich., June 1, 2026
BENTON HARBOR, Mich., June 1, 2026 /PRNewswire/ -- Whirlpool Corporation (NYSE: WHR) ("Whirlpool" or the "Company") announced today that it is planning to offer, subject to market conditions and other factors, $750 million in aggregate principal amount of Senior Secured Second Lien Notes due 2031 (the "2031 Notes") and $750 million in aggregate principal amount of Senior Secured Second Lien Notes due 2034 (the "2034 Notes" and, together with the 2031 Notes, the "Notes"). Whirlpool intends to use the net proceeds from the issuance of the Notes, together with borrowings under the Company's new asset-based revolving credit facility (the "ABL Credit Facility"), to (i) pay the consideration for all 1.250% Senior Notes due 2026 (the "2026 Existing Notes") and 1.100% Senior Notes due 2027 (the "2027 Existing Notes" and, together with the 2026 Existing Notes, the "Existing Notes") in each case issued by Whirlpool Finance Luxembourg S.à r.l., a wholly owned subsidiary of Whirlpool, that are validly tendered to the Company in a tender offer and consent solicitation (the "Concurrent Tender Offer and Consent Solicitation"), (ii) satisfy and discharge, in accordance with the indenture governing the Existing Notes, as amended pursuant to the Concurrent Tender Offer and Consent Solicitation (the "Existing Notes Indenture"), any such Existing Notes that remain outstanding following the completion of the Concurrent Tender Offer and Consent Solicitation, by irrevocably depositing with the trustee under the Existing Notes Indenture funds sufficient to pay the principal of and interest on such Existing Notes as and when due, (iii) repay the amount outstanding under the Company's existing unsecured revolving credit facility, and (iv) pay fees and expenses in connection with the foregoing.
