Wayfair subsidiary proposes $700M senior secured notes due 2032 to repurchase convertible debt

Wayfair Inc.

Wayfair LLC intends to offer $700M senior secured notes due 2032 in private offering.
Proceeds to be used to purchase outstanding 3.250% 2027 and 3.500% 2028 convertible notes.
Notes will be secured on first-priority basis by same assets as existing secured facilities.
No assurance on amount or terms of convertible note repurchases; could impact common stock price.
Offering not registered under Securities Act; limited to QIBs and non-U.S. persons.

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