New Issue: Whirlpool prices $500 million 4.5% 30-year notes at 190 bps spread

By Cristal Cody

Eureka Springs, Ark., May 18 – Whirlpool Corp. sold $500 million of 4.5% 30-year senior notes (Baa1/BBB/BBB) with a spread of 190 basis points over Treasuries on Wednesday, according to an FWP filing with the Securities and Exchange Commission.

The company priced the notes at 99.201 to yield 4.549%.

Bookrunners were Citigroup Global Markets Inc., Mizuho Securities USA Inc., BNP Paribas Securities Corp. and J.P. Morgan Securities LLC.

Proceeds will be used to repay debt maturing in 2016 and for general corporate purposes.

Whirlpool is a Benton Harbor, Mich.-based appliance maker.

Issuer:	Whirlpool Corp.
Amount:	$500 million
Maturity:	June 1, 2046
Securities:	Senior notes
Bookrunners:	Citigroup Global Markets Inc., Mizuho Securities USA Inc., BNP Paribas Securities Corp., J.P. Morgan Securities LLC
Co-managers:	BofA Merrill Lynch, MUFG, HSBC Securities (USA) Inc., ING Financial Markets LLC, UniCredit Capital Markets, Wells Fargo Securities, LLC
Coupon:	4.5%
Price:	99.201
Yield:	4.549%
Spread:	Treasuries plus 190 bps
Call feature:	Make-whole call before Dec. 1, 2045 at Treasuries plus 30 bps; par call on or after Dec. 1, 2045
Put option:	101%
Pricing date:	May 18
Settlement date:	May 23
Ratings:	Moody’s: Baa1
	S&P: BBB
	Fitch: BBB
Distribution:	SEC registered

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