Whirlpool draws $2.2 billion under $3.5 billion revolver

By Wendy Van Sickle

Columbus, Ohio, March 25 – Whirlpool Corp. initiated borrowing $2.2 billion under its $3.5 billion revolving credit facility on March 13, according to a news release.

A portion of the proceeds from the borrowing were used to fund commercial paper repayment and the remainder is being held on the company’s balance sheet and may be used to fund additional commercial paper repayment, working capital and other general corporate purposes.

The company said it believes its current cash balance, and committed credit facilities, which include $215 million in additional availability from facilities in Brazil and India, provide the financial flexibility needed to support its global operations.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.