PROG Holdings closes $600M 6% senior notes due 2029; funds $425M stock tender offer

PROG Holdings, Inc.

Closed $600M offering of 6.000% senior unsecured notes due November 2029.
Notes issued at par; interest payable semi-annually starting May 15, 2022.
Net proceeds to fund up to $425M tender offer for common stock at $44–$50/share.
Tender offer financing condition satisfied with closing of notes offering.
Remaining proceeds after tender offer used for additional share repurchases or general corporate purposes.

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