Whirlpool talks $500 million offering of notes in 10-, 30-year tranches for Friday pricing

By Andrea Heisinger

New York, Feb. 22 - Whirlpool Corp. is planning a $500 million offering of notes (Baa3/BBB-/BBB) in two parts on Friday, according to an informed source and a 424B3 filing with the Securities and Exchange Commission.

The offering includes maturities of 10 years and 30 years, the source said. The 10-year notes have official talk in the 180 basis points area, plus or minus 5 bps, while the 30-year bonds have guidance in the 205 bps area, plus or minus 5 bps.

Bookrunners are BNP Paribas Securities Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and RBS Securities Inc.

Proceeds will be used for general corporate purposes, including repayment of $500 million of 5.5% medium-term notes maturing in March.

The Benton Harbor, Mich.-based appliance maker was last in the U.S. bond market with a $300 million sale of 4.7% 10-year notes priced at 300 bps over Treasuries on May 29, 2012.

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