Bread Financial authorizes $150M buyback and $400M subordinated notes offering

BREAD FINANCIAL HOLDINGS, INC.

Board approved up to $150M share repurchase program; no expiration date set.
Company plans $400M private offering of fixed-rate reset subordinated notes.
At least $250M of net proceeds will lend as subordinated debt to subsidiary Comenity Capital Bank.
Remaining proceeds for general corporate purposes, which may include share repurchases.
Notes offered only to QIBs and non-U.S. persons; not registered under Securities Act.

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