Bloomberg News

Whirlpool Sells $500 Million of Bonds, First 30-Year Since 1986

February 22, 2013

Whirlpool Corp. (WHR:US), the world’s largest appliance maker, raised $500 million in a bond offering that included its first 30-year debt in almost three decades.

The company issued equal $250 million portions of 3.7 percent, 10-year debt that yields 175 basis points more than similar-maturity Treasuries and 5.15 percent securities due in 2043 that pay 200 more than benchmarks, according to data compiled by Bloomberg.

Proceeds will help repay Whirlpool’s $500 million of 5.5 percent bonds maturing March 1, the Benton Harbor, Michigan- based company said today in a regulatory filing.

Whirlpool last sold 30-year debt in 1986, when it issued $125 million of 9.125 percent securities that were called in 1993, according to data compiled by Bloomberg.

The new securities are expected to be rated Baa3 by Moody’s Investors Service.

To contact the reporter on this story: Charles Mead in New York at cmead11@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net


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    (Whirlpool Corp)
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