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Fortress-backed consumer finance company Springleaf Holdings sets terms for $320 million IPO
By: Renaissance Capital
Springleaf Holdings, a consumer finance company that provides
loan products through its branch network and online, announced
terms for its IPO on Monday. The Evansville, IN-based company
plans to raise $320 million by offering 20.0 million shares (40%
insider) at a price range of $15 to $17. At the midpoint of the
proposed range, Springleaf Holdings would command a market value
of $1.8 billion.
Springleaf Holdings, which was founded in 1927 and booked $859 million in sales for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol LEAF. BofA Merrill Lynch, Citi, Credit Suisse, Allen & Company and Barclays are the joint bookrunners on the deal.