Wayfair ( (W) ) just unveiled an update.
Wayfair Inc. has announced that its subsidiary, Wayfair LLC, is planning a private offering of $700 million in senior secured notes due 2029, aimed at qualified institutional buyers and non-U.S. persons, following the rules of the Securities Act. The proceeds are intended for repaying some existing convertible senior notes and general corporate expenses. The notes will be secured by liens on assets that also secure Wayfair’s revolving credit facility, although the sale is not guaranteed and is subject to market conditions. Wayfair, a home goods giant with a diverse family of brands, reported $11.9 billion in net revenue for the year ending June 30, 2024.
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