Wayfair plans $400 million senior secured notes offering due 2034

Wayfair Inc. (NYSE: W) announced that its subsidiary Wayfair LLC intends to offer $400 million in aggregate principal amount of senior secured notes due 2034 in a private offering, subject to market and other conditions.

The company plans to use net proceeds from the notes offering to repay a portion of existing debt and for general corporate purposes. Wayfair stated that no assurance can be given regarding how much existing debt will be repaid with the proceeds, the repayment terms, or timing.

The notes will be guaranteed by Wayfair and certain domestic subsidiaries that guarantee the issuer's senior secured revolving credit facility and existing senior secured notes. The notes and guarantees will be secured on a first-priority basis by liens on the same assets that secure the issuer's current senior secured revolving credit facility and existing senior secured notes.

The notes will not be registered under the Securities Act of 1933 and will not be offered or sold in the United States absent registration or an applicable exemption. The offering is limited to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.

Wayfair operates as an online retailer for home goods and furniture across multiple brands including AllModern, Birch Lane, Joss & Main, Perigold, and Wayfair Professional.

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