Wayfair issues $400M 7.125% senior secured notes due 2034; calls 3.50% convertible notes due 2028

Wayfair Inc.

Wayfair LLC issued $400M of 7.125% senior secured notes due May 31, 2034; interest payable semi-annually starting Nov 15, 2026.
Net proceeds to repay existing indebtedness and for general corporate purposes; no commitment on amount or timing of repayment.
Wayfair called all outstanding 3.50% convertible notes due 2028 for redemption on June 29, 2026 at principal plus accrued interest.
Holders may convert before redemption; conversion rate increased to 23.3162 shares per $1,000 principal (from 21.8341) during redemption period.
Covenants restrict additional debt, dividends, investments, liens, asset sales, and mergers; some cease if Notes achieve investment grade ratings from two agencies.

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