ONEMAIN FINANCE CORP: debt financing — OneMain Finance issues $700M of 7.875% Senior Notes due 2030; proceeds to redeem 6.125% Senior Notes

ONEMAIN FINANCE CORP

Issued $700M aggregate principal amount of 7.875% Senior Notes due 2030 in underwritten public offering closing Dec 13, 2023.
Net proceeds to redeem remainder of outstanding 6.125% Senior Notes and for general corporate purposes, including debt repurchases.
Notes mature 2030; interest payable semiannually Mar 15 and Sep 15, starting Mar 15, 2024.
Callable at make-whole prior to Dec 15, 2026; thereafter at 103.938% (2026), 101.969% (2027), 100% (2028+).
Guaranteed on unsecured basis by parent OneMain Holdings, Inc.; rank equally with other unsubordinated debt.

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

ONEMAIN FINANCE CORP incurred senior notes of $700.0 million aggregate principal amount with institutional investors at 7.875% per annum maturing 2030.

Instrument: senior notes
Principal: $700.0 million aggregate principal amount
Counterparty: institutional investors
Rate: 7.875% per annum
Maturity: 2030
Event: incurrence

Exact text from the filing

Markets Inc. and HSBC Securities (USA) Inc., as representatives of the several underwriters named therein (the “Underwriters”), relating to the issuance and sale by OMFC of $700.0 million aggregate principal amount of our 7.875% Senior Notes due 2030 (the “Notes”) in an underwritten public offering made pursuant to a registration statement and related prospectus

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ONEMAIN FINANCE CORP entered into Underwriting Agreement with Citigroup Global Markets Inc. and HSBC Securities (USA) Inc., as representatives of the several underwriters valued at $700.0 million (effective 2023-12-11).

Action: entry
Agreement: underwriting
Counterparty: Citigroup Global Markets Inc. and HSBC Securities (USA) Inc., as representatives of the several underwriters
Value: $700.0 million
Effective: 2023-12-11

Exact text from the filing

On December 11, 2023, OneMain Finance Corporation (“OMFC,” “we,” “us” or “our”) entered into an underwriting agreement (the “Underwriting Agreement”) with OneMain Holdings, Inc., the direct sole shareholder of OMFC (“OMH”), as guarantor, and Citigroup Global Markets Inc. and HSBC Securities (USA) Inc., as representatives of the several underwriters named therein (the “Underwriters”), relating to the issuance and sale by OMFC of $700.0 million aggregate principal amount of our 7.875% Senior Notes due 2030 (the “Notes”) in an underwritten public offering made pursuant to a registration statement and related prospectus supplement filed with the Securities and Exchange Commission (the “SEC”).

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Source: SEC EDGAR

accession 0001140361-23-057492

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