On June 16, 2026, Whirlpool Corporation (NYSE: WHR) (Whirlpool), the leading U.S.-based multinational home appliance manufacturer, announced the completion of a US$2 billion cross-border senior secured first-lien asset based (ABL) credit facility, as well as an offering of US$1 billion aggregate principal amount of 7.500 per cent senior secured second-lien notes due 2031, and US$1 billion aggregate principal amount of 7.875 per cent senior secured second-lien notes due 2034.
Whirlpool intends to use the net proceeds from the new notes and borrowings to (i) pay the consideration for, and satisfy and discharge, the 1.250 per cent senior notes due 2026, and 1.100 per cent senior notes due 2027, in each case, issued by Whirlpool Finance Luxembourg S.à r.l.; (ii) repay its existing unsecured revolving credit facility; and (iii) pay fees and expenses in connection with the foregoing.
BLG represented Whirlpool as Canadian counsel with a team led by Shane Pearlman (Financial Services) that included Colin Yeo, Sam Babe and Kevin Lambie (Financial Services); Joe Zed and Kaitlin D'Agostino (Capital Markets); and James Fu (Pensions and Benefits).