Wayfair subsidiary proposes $700M senior secured notes due 2030 to repurchase convertible notes

Wayfair Inc.

Wayfair LLC intends to offer $700M aggregate principal of senior secured notes due 2030 in a private offering.
Net proceeds will be used to repurchase part of outstanding 0.625% convertible notes due 2025 and 1.00% notes due 2026.
Concurrently, Wayfair plans to enter an amended credit agreement for a new $500M revolver with maturity extended to 2030.
Notes and guarantees are secured on a first-priority basis by same assets as existing credit facilities and notes.
Offering is not conditioned on the new revolver; both transactions are subject to market conditions.

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