Wayfair LLC announced a $700 million senior secured notes offering due 2032, to be sold in a private placement to qualified institutional buyers and fully guaranteed by Wayfair and its domestic subsidiaries.
Proceeds will be used to repurchase portions of the company’s 3.250% convertible senior notes due 2027 and 3.500% convertible senior notes due 2028, and for general corporate purposes, including repayment of other indebtedness.
The move follows a period of net losses and declining revenue, with Wayfair reporting a net loss of $248 million in Q1 2024, $174 million in Q4 2023, and $738 million for the full year 2023. In Q3 2024 the company posted a GAAP operating loss of $74 million versus $163 million a year earlier, while Q3 2025 revenue rose 8.1 % to $3.12 billion.
Wayfair’s total debt stood at $3.8 billion as of November 4 2025. The new notes will increase the proportion of senior secured debt in the capital structure and are part of a broader deleveraging strategy that has earned the company a positive outlook from S&P Global Ratings.
Management emphasized that the refinancing will improve the company’s balance‑sheet profile and extend the maturity profile of its debt, providing greater flexibility for future capital deployment.
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