BREAD FINANCIAL HOLDINGS, INC. (BFH): debt financing — Bread Financial closes $300M add-on of 9.750% senior notes; to redeem $400M 7% notes due 2026

BREAD FINANCIAL HOLDINGS, INC.

$300M principal of additional 9.750% Senior Notes due 2029 issued at 101% of par; net proceeds ~$300M after discount.
Proceeds plus cash on hand will fund redemption of $400M outstanding 7.000% Senior Notes due 2026.
Additional Notes form a single series with existing $600M of 9.750% Notes, all maturing March 15, 2029.
Interest payable semi-annually March 15 and September 15, beginning March 15, 2024.
Notes are jointly and severally guaranteed by domestic subsidiaries that guarantee existing senior notes and credit facilities.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BREAD FINANCIAL HOLDINGS, INC. incurred senior notes of $300 million principal amount with U.S. Bank Trust Company, National Association at 9.750% maturing March 15, 2029.

Instrument: senior notes
Principal: $300 million principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 9.750%
Maturity: March 15, 2029
Event: incurrence

Exact text from the filing

On January 19, 2024, Bread Financial Holdings, Inc. (the “Company”) closed its previously announced offering (the “Offering”) of $300 million principal amount of additional 9.750% Senior Notes due 2029

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BREAD FINANCIAL HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001101215-24-000015

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