Bread Financial announces private offering of senior notes

* Bread Financial Holdings (NYSE:BFH [https://seekingalpha.com/symbol/BFH]) said on Tuesday that it plans to offer $500 million in senior notes in a private placement, subject to market conditions.
* The company said it will use the proceeds from the offering, along with about $275 million in cash, to redeem in full its outstanding 9.750% senior notes due 2029, which total $719 million.
* The new notes will be guaranteed by Bread Financial’s domestic subsidiaries that back its existing senior notes and credit facility.
* The offering will be made only to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S.
* Bread Financial said there is no assurance the transaction will be completed on the proposed terms or at all.
* BFH closed +1.16% at $66.26.
* Source: Press Release [https://seekingalpha.com/pr/20281914-bread-financial-announces-private-offering-of-senior-notes]

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