Whirlpool raises $2B in high-rate secured debt, refinances low-cost notes at 6x higher rates

Filed June 16, 2026 · Period ending June 12, 2026 · ~1 min read

Key Changes

• high

  Issued $2B in senior secured notes (7.5% due 2031, 7.875% due 2034) to refinance existing 1.1-1.25% notes, dramatically increasing borrowing costs from sub-2% to nearly 8% while extending maturities and adding asset security.

  Item 1.01: Note Issuance verify on EDGAR →
• high

  Established new $2B asset-based revolving credit facility secured by accounts, inventory, IP, and equipment with SOFR+1.5-2.0% rates, replacing unsecured facility and providing liquidity backstop.

  Item 1.01: ABL Credit Facility verify on EDGAR →
• medium

  New debt includes springing financial covenant requiring 1.0x fixed charge coverage ratio when availability drops below 10% of credit line, potentially constraining operations if liquidity tightens.

  Item 1.01: Covenants verify on EDGAR →