Bread Financial upsizes senior notes offering to $600M at 9.750% due 2029

BREAD FINANCIAL HOLDINGS, INC.

Priced $600M senior notes (upsized from $500M) at 9.750% due March 15, 2029.
Net proceeds expected ~$592.5M after discounts; closing on Dec 22, 2023.
Proceeds to redeem $4.750% Senior Notes due 2024 and repay term loans.
Offered privately under Rule 144A/Reg S; notes not registered under Securities Act.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

BREAD FINANCIAL HOLDINGS, INC. entered into Purchase Agreement with J.P. Morgan Securities LLC, as representative of the several initial purchasers valued at $600,000,000 senior notes at 100% of principal amount for net proceeds of approximately $592,500,000 (effective 2023-12-12).

Action: entry
Agreement: notes offering
Counterparty: J.P. Morgan Securities LLC, as representative of the several initial purchasers
Value: $600,000,000 senior notes at 100% of principal amount for net proceeds of approximately $592,500,000
Effective: 2023-12-12

Exact text from the filing

On December 12, 2023, Bread Financial Holdings, Inc. (the “Company”) and certain subsidiary guarantors named therein (the “Guarantors”) entered into a purchase agreement (the “Purchase Agreement”) with J.P. Morgan Securities LLC, as representative of the several initial purchasers named therein (collectively, the “Initial Purchasers”), under which the Company agreed to sell $600 million aggregate principal amount of senior notes (the “Notes”), in a private offering pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”).

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38 material agreements filed in the last 30 days. Browse all material agreements →

BREAD FINANCIAL HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001101215-23-000214

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