Whirlpool Sells $1.2 Billion of Debt in First Junk-Bond Deal
A Whirlpool washer at a store in Orem, Utah.
Photographer: George Frey/BloombergWhirlpool Corp. priced $1.2 billion of high-yield notes Monday in the appliance maker’s first bond sale since being downgraded to junk.
The company sold $600 million each of five- and eight-year securities, according to a person familiar with the matter who asked not to be identified as they’re not authorized to speak publicly. They will carry respective coupons of 6.125% and 6.5%, as much as 25 basis points less than pre-launch price discussions, the person added.