Bread Financial Announces Pricing of Private Offering of $400 million of Subordinated Notes

Core Viewpoint - Bread Financial Holdings, Inc. has announced the pricing of a $400 million offering of 8.375% fixed-rate reset subordinated notes due 2035, with expected net proceeds of approximately $395 million after deducting initial purchasers' discount [1][2] Group 1: Offering Details - The Notes will be sold at a price of 100% of the principal amount and the closing of the issuance is expected on March 10, 2025, subject to customary closing conditions [1] - The Company intends to lend no less than $250 million of the net proceeds as subordinated debt to its subsidiary bank, Comenity Capital Bank, with the remaining proceeds for general corporate purposes, potentially including share repurchases [2] Group 2: Regulatory Information - The Notes will not be registered under the Securities Act or any state securities laws, and may only be offered to qualified institutional buyers or non-U.S. persons in compliance with Regulation S [3] Group 3: Company Overview - Bread Financial is a tech-forward financial services company providing personalized payment, lending, and saving solutions to millions of U.S. consumers, including general purpose credit cards and savings products [5]