**Whirlpool Corp. Plans $1.2 Billion Bond Sale to Refinance Debt**
Whirlpool Corp. is set to raise $1.2 billion through a bond sale aimed at refinancing its debt, marking its first foray into the bond market since receiving a junk rating. The company intends to issue dollar-denominated senior unsecured notes in two segments, with maturities scheduled for 2030 and 2033, as confirmed by a source familiar with the situation. The specific amounts for each tranche have not yet been finalized.
The U.S. junk-bond market recently experienced its most active week since May 2024, with 13 issuers collectively raising over $13 billion. This surge in demand for higher-yielding debt is anticipated to encourage further bond issuance in the upcoming weeks. Whirlpool, a global leader in home appliance manufacturing, plans to utilize the proceeds from this bond sale to pay down existing debt under its term-loan facility.
Initial pricing discussions for the five-year notes are projected to be in the high 6% range, while the eight-year notes are expected to be priced 25 to 37.5 basis points above the five-year notes. Key financial institutions involved in the bond sale include Mizuho Financial Group Inc., BNP Paribas SA, Citigroup Inc., JPMorgan Chase & Co., and Wells Fargo & Co. An investor call is scheduled for 10:30 a.m. New York time on Monday, with pricing anticipated to follow later that day, following discussions with investors that took place last week.
In summary, Whirlpool’s strategic move to refinance its debt through this bond sale reflects its ongoing efforts to strengthen its financial position amid changing market conditions.
**FAQ**
**What is Whirlpool Corp. planning with its bond sale?**
Whirlpool Corp. is planning to raise $1.2 billion through a bond sale to refinance its debt, marking its first bond issuance since being downgraded to junk status.