Archive · 9 Jun 2025
Whirlpool to Sell $1.2 Billion in Bonds After Downgrade
Whirlpool, a company that makes appliances, is selling bonds to borrow $1.2 billion.
This comes after the company's credit rating was lowered to junk status.
They plan to use the money to pay back other loans.
The bonds will be available in two types, maturing in 2030 and 2033.
Investors will be able to buy the bonds at an initial price range, with final pricing expected later on Monday.
Several financial groups are helping Whirlpool with this bond sale.
Whirlpool plans to sell $1.2 billion in bonds.
The bond sale follows a downgrade to junk status.
Proceeds will repay debt under an existing term-loan facility.
The sale includes notes maturing in 2030 and 2033.
Mizuho Financial Group and others are bookrunners for the deal.
- Who
- Whirlpool Corp.
- What
- Whirlpool is selling bonds to raise $1.2 billion.
- When
- Pricing is expected later Monday.
- Where
- Not explicitly mentioned.
- Why
- To refinance debt.
- Bond Sale Amount
- $1.2 billion
- Type of Notes
- Senior unsecured notes
- Maturity Dates
- 2030, 2033
- Initial Price Talk (5-year notes)
- High 6% range
- Use of Proceeds
- Refinance debt
- Bookrunners
- Mizuho, BNP Paribas, Citigroup, JPMorgan, Wells Fargo