Bread Financial Announces Expiration and Results of Its Previously Announced Cash Tender Offers

Core Viewpoint - Bread Financial Holdings, Inc. has completed its cash tender offers for its senior and subordinated notes, with the offers expiring on August 21, 2025, and details regarding the amounts tendered are provided [1][2]. Group 1: Tender Offer Details - The cash tender offers included the Company's 9.750% Senior Notes due 2029 and 8.375% Fixed-Rate Reset Subordinated Notes due 2035 [1]. - A total of $31,288,000 of the 2029 Notes and $121,000 of the 2035 Notes were validly tendered [2]. - The total outstanding principal amount for the 2029 Notes was $750,012,000, while the 2035 Notes had an outstanding principal of $400,000,000 [2]. Group 2: Financial Considerations - The consideration for the 2029 Notes was $1,070 per $1,000 principal amount, while the 2035 Notes had a consideration of $1,025 per $1,000 principal amount [2]. - The Company accepted $28,402,000 of the 2029 Notes and $121,000 of the 2035 Notes for purchase on the Early Participation Date, with settlement occurring on August 11, 2025 [2]. Group 3: Management and Execution - J.P. Morgan Securities LLC acted as the sole lead dealer manager for the tender offers, with several other firms serving as co-dealer managers [4]. - The tender offers were conducted in accordance with the terms outlined in the Offer to Purchase, and no tenders submitted after the expiration date were valid [2][4]. Group 4: Company Overview - Bread Financial is a tech-forward financial services company that provides payment, lending, and saving solutions to U.S. consumers [8]. - The Company offers general purpose credit cards and savings products, as well as private label and co-brand credit cards for recognized brands in various sectors [8].