debt
confidence high
sentiment neutral
materiality 0.60
Wayfair subsidiary issues $800M of 7.250% senior secured notes due 2029
Wayfair Inc.
- Issuer Wayfair LLC issued $800M aggregate principal of 7.250% senior secured notes due October 31, 2029.
- Interest payable semi-annually at 7.250% per annum, first payment April 15, 2025.
- Notes are senior secured obligations guaranteed by Wayfair and certain domestic subsidiaries, secured by same assets as revolving credit facility.
- Net proceeds, together with cash on hand, to repay certain existing convertible senior notes and for general corporate purposes.
- Redeemable at 100% plus make-whole premium before Oct 31, 2026; thereafter at specified prices; up to 40% from equity offering proceeds at 107.250% before Oct 31, 2026.