Wayfair Announces Proposed Offering of $700 Million Senior Secured Notes
Wayfair Inc. (NYSE: W) has announced that its subsidiary, Wayfair , plans to offer $700 million in senior secured notes due 2029. The offering is subject to market conditions and will be made in a private placement. The net proceeds, along with cash on hand, will be used to repay certain existing convertible senior notes and for general corporate purposes.
The notes will be guaranteed by Wayfair and certain domestic subsidiaries on a senior secured basis. They will be secured by first-priority liens on assets that also secure Wayfair's senior secured revolving credit facility. The notes will be offered only to qualified institutional buyers and non-U.S. persons, in accordance with Rule 144A and Regulation S of the Securities Act, respectively.
Wayfair Inc. (NYSE: W) ha annunciato che la sua controllata, Wayfair, prevede di offrire 700 milioni di dollari in note senior garantite scadenti nel 2029. L'offerta è soggetta alle condizioni di mercato e sarà effettuata tramite collocamento privato. Il ricavato netto, insieme alla liquidità disponibile, sarà utilizzato per rimborsare alcune note senior convertibili esistenti e per scopi aziendali generali.
Le note saranno garantite da Wayfair e da alcune sue controllate nazionali su base senior garantita. Saranno garantite da privilegi di primo grado su attivi che garantiscono anche la linea di credito revolving senior garantita di Wayfair. Le note saranno offerte solo a compratori istituzionali qualificati e a persone non statunitensi, in conformità con la Regola 144A e il Regolamento S del Securities Act, rispettivamente.
Wayfair Inc. (NYSE: W) ha anunciado que su filial, Wayfair, planea ofrecer 700 millones de dólares en notas senior garantizadas con vencimiento en 2029. La oferta está sujeta a las condiciones del mercado y se realizará en una colocación privada. Los ingresos netos, junto con el efectivo disponible, se utilizarán para pagar ciertas notas senior convertibles existentes y para fines corporativos generales.
Las notas estarán garantizadas por Wayfair y ciertas subsidiarias nacionales en una base senior garantizada. Estarán aseguradas por gravámenes de primera prioridad sobre activos que también aseguran la línea de crédito revolving senior garantizada de Wayfair. Las notas se ofrecerán solo a compradores institucionales calificados y a personas no estadounidenses, de acuerdo con la Regla 144A y el Reglamento S de la Ley de Valores, respectivamente.
Wayfair Inc. (NYSE: W)는 자회사 Wayfair가 2029년 만기인 7억 달러 규모의 고위험 보장 채권을 발행할 계획이라고 발표했습니다. 이 제안은 시장 상황에 따라 달라지며, 사모 방식으로 진행됩니다. 순수익금은 기존의 특정 전환 고위험 보장 채권을 상환하고 일반 회사 용도로 사용될 예정입니다.
채권은 Wayfair와 특정 국내 자회사에 의해 고위험 보장의 형태로 보장됩니다. 이는 Wayfair의 고위험 회전 신용 시설을 담보하는 자산에 대한 우선 선취 권리로 담보됩니다. 채권은 적격 기관 투자자와 비미국인을 대상으로만 제공되며, 각각 증권법의 규칙 144A 및 S 규정에 따릅니다.
Wayfair Inc. (NYSE: W) a annoncé que sa filiale, Wayfair, envisage d'offrir 700 millions de dollars de billets senior garantis arrivant à échéance en 2029. L'offre est soumise aux conditions du marché et sera faite par voie de placement privé. Le produit net, ainsi que la liquidité disponible, sera utilisé pour rembourser certaines obligations senior convertibles existantes et pour des besoins généraux de l'entreprise.
Les billets seront garantis par Wayfair et certaines filiales nationales sur une base sécurisée senior. Ils seront garantis par des privilèges de premier ordre sur des actifs qui garantissent également la ligne de crédit revolving senior sécurisée de Wayfair. Les billets ne seront offerts qu'à des acheteurs institutionnels qualifiés et à des personnes non américaines, conformément à la Règle 144A et à la Réglementation S de la Loi sur les Valeurs Mobilières.
Wayfair Inc. (NYSE: W) hat bekannt gegeben, dass seine Tochtergesellschaft Wayfair plant, 700 Millionen Dollar in unbesicherten vorrangigen Anleihen mit Fälligkeit im Jahr 2029 anzubieten. Das Angebot unterliegt den Marktbedingungen und wird als Privatplatzierung durchgeführt. Der Nettoerlös wird zusammen mit Barmitteln zur Rückzahlung bestimmter bestehender wandelbarer vorrangiger Anleihen und für allgemeine Unternehmenszwecke verwendet.
Die Anleihen werden von Wayfair und bestimmten inländischen Tochtergesellschaften auf vorrangig gesicherter Basis garantiert. Sie werden durch erstrangige Pfandrechte an Vermögenswerten gesichert, die auch die revolvierende Kreditfazilität von Wayfair sichern. Die Anleihen werden nur an qualifizierte institutionelle Käufer und an Personen außerhalb der USA gemäß Regel 144A und der Verordnung S des Wertpapiergesetzes angeboten.
- Potential to refinance existing debt with new secured notes
- Strengthening of balance sheet through debt restructuring
- Access to additional capital for general corporate purposes
- Increase in secured debt obligations
- Potential dilution of existing shareholders if convertible notes are exchanged
- Additional interest expenses from new notes
We intend to use the net proceeds from the Notes offering, together with cash on hand, for the repayment of certain of Wayfair's existing convertible senior notes and general corporate purposes.
The Notes will be fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Wayfair and certain Wayfair domestic subsidiaries that guarantee the Issuer's senior secured revolving credit facility. The Notes and related guarantees will be secured on a first-priority basis by liens on the same assets that secure the Issuer's senior secured revolving credit facility.
The Notes and related guarantees will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction, and will not be offered or sold in
This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy any securities. Any offer of the Notes and related guarantees is not being made to any person in any jurisdiction in which the offer, solicitation or sale is unlawful. This press release also shall not constitute an offer to purchase, a solicitation of an offer to sell, or notice of redemption with respect to any of Wayfair's outstanding convertible notes.
About Wayfair
Wayfair is the destination for all things home, in one inspiring place. With quality finds for every style and budget, and a convenient experience from inspiration to installation, Wayfair empowers everyone, everywhere to create a space that is just right for them.
The Wayfair family of brands includes:
- Wayfair: Every style. Every home.
- AllModern: All of modern, made simple.
- Birch Lane: Classic style for joyful living.
- Joss & Main: The ultimate style edit for home.
- Perigold: The destination for luxury home.
- Wayfair Professional: A one-stop Pro shop.
Wayfair generated
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal and state securities laws. All statements other than statements of historical fact contained in this press release, including statements regarding whether we will offer and issue the Notes and the terms of the Notes; the anticipated use of the net proceeds from the offering of the Notes; and expectations regarding the repayment of Wayfair's outstanding convertible notes, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "continues," "could," "intends," "goals," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or the negative of these terms or other similar expressions. Forward-looking statements are based on current expectations of future events. We cannot guarantee that any forward-looking statement will be accurate, although we believe that we have been reasonable in our expectations and assumptions. Investors should realize that if underlying assumptions prove inaccurate or that known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections. Investors are therefore cautioned not to place undue reliance on any forward-looking statements. We believe that these risks and uncertainties include, but are not limited to, adverse macroeconomic conditions, including rising and fluctuating interest rates and inflation, slower growth or the potential for recession, disruptions in the global supply chain, conditions affecting the retail environment for products we sell, and other matters that influence consumer spending and preferences, as well as our ability to plan for and respond to the impact of these conditions; our ability to acquire and retain customers in a cost-effective manner; our ability to increase our net revenue per active customer; our ability to build and maintain strong brands; our ability to manage our growth and expansion initiatives; and our ability to expand our business and compete successfully. A further list and description of risks, uncertainties and other factors that could cause or contribute to differences in our future results include the cautionary statements herein and in our most recent Annual Report on Form 10-K and in our other filings and reports with the Securities and Exchange Commission. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this press release and, except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events or otherwise.
Media Relations Contact:
Tara Lambropoulos
PR@Wayfair.com
Investor Relations Contact:
James Lamb
IR@wayfair.com
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SOURCE Wayfair Inc.
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