Bread Financial Holdings, Inc. Accepts $28.5M Senior Notes

By Greg Peters • Friday, August 22 18:15 • Permanent Link

Bread Financial Holdings, Inc. (NYSE: BFH) has announced the results of its previously announced cash tender offers (the "tender offers") which expired on August 21, 2025. The total aggregate principal amount of the company’s 9.750% senior notes due 2029 and the company’s 8.375% fixed-rate reset subordinated notes due 2035 validly tendered (and not validly withdrawn) pursuant to the tender offers are as follows:

$31,288,000 of the 9.750% senior notes due 2029 were tendered.
$121,000 of the 8.375% fixed-rate reset subordinated notes due 2035 were tendered.

Additionally, it's noted that $28,402,000 of the 2029 notes and $121,000 of the 2035 notes were accepted for purchase by the company on August 6, 2025, and $2,886,000 of the 2029 notes were validly tendered (and not validly withdrawn) following the early participation date but on or prior to the expiration date. The company anticipates that such notes tendered following the early participation date but on or prior to the expiration date will be accepted for purchase in accordance with the terms of the tender offers on August 26, 2025.

The total consideration for the 9.750% senior notes due 2029 is $1,070 per $1,000 principal amount of notes accepted for purchase, while the total consideration for the 8.375% fixed-rate reset subordinated notes due 2035 is $1,025 per $1,000 principal amount of notes accepted for purchase.

Furthermore, it's important to mention that the tender offers were made pursuant to the terms and conditions contained in the offer to purchase, and the tender offers expired at the expiration date with no tenders of notes submitted after the expiration date being considered valid.

The sole lead dealer manager for the tender offers was J.P. Morgan Securities LLC, and several co-dealer managers were involved in the process as well. It's important to note that this news release is not an offer to purchase nor a solicitation of an offer to sell any securities, and the tender offers were made only by, and pursuant to the terms of, the offer to purchase. The market has reacted to these announcements by moving the company's shares 4.79% to a price of $62.425. Check out the company's full 8-K submission here.

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