We advised the underwriters on the offering

Davis Polk advised the representatives of the several underwriters in connection with the $575 million SEC-registered offering of 11,500,000 depositary shares by Whirlpool Corporation, including the full exercise by the underwriters of their option to purchase 1,000,000 additional depositary shares. Each depositary share represents a 1/20th interest in a share of Whirlpool Corporation’s 8.50% Series A mandatory convertible preferred stock. The proceeds from the offering will be used to repay a portion of the amounts outstanding under Whirlpool Corporation’s revolving credit facility and for general corporate purposes, including strategic investments in vertical integration and automation.

Whirlpool Corporation is a leading home appliance company, in constant pursuit of improving life at home. As the only major U.S.-based manufacturer of kitchen and laundry appliances, the company is driving meaningful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, JennAir, Maytag, Amana, Brastemp, Consul and InSinkErator. In 2025, the company reported approximately $16 billion in annual net sales—close to 90% of which were in the Americas—41,000 employees and 35 manufacturing and technology research centers.

The Davis Polk equity derivatives team included partner Mark M. Mendez, counsel Hanbing Zhang and associate Jessica Carter. Partner Lucy W. Farr and associates Yueyu Yang and Michelle Kim provided tax advice. All members of the Davis Polk team are based in the New York office.

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