Whirlpool Plans to Sell $1.2 Billion of Bonds

Whirlpool Corp. is raising $1.2 billion through its first bond sale since being downgraded to junk status. The company plans to issue senior unsecured notes in two tranches, maturing in 2030 and 2033, to refinance debt. Proceeds will repay existing term loans. Initial pricing for the five-year notes is in the high 6% range, with the eight-year notes expected to price 25-37.5 basis points higher. Stock in focus -