(RTTNews) - Bread Financial Holdings, Inc. (BFH) Wednesday has priced its $400 million offering of 8.375% fixed-rate reset subordinated notes due 2035 in a private placement exempt from SEC registration. The notes, sold at face value, are expected to close on March 10, 2025, generating approximately $395 million in net proceeds after deducting initial purchaser discounts.
At least $250 million of the proceeds will be loaned as subordinated debt to Comenity Capital Bank, while the remainder will support general corporate purposes, potentially including share repurchases. The notes will be available only to qualified institutional buyers under Rule 144A or to non-U.S. investors per Regulations.
This announcement does not constitute an offer or solicitation for securities sales in any jurisdiction where such actions would be unlawful.
BFH closed at $50.92 or 0.81% higher on the NYSE.
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