Equitable Holdings, Inc. (NYSE: EQH) has announced the early results of its cash tender offer to purchase outstanding debt securities. According to the information provided by D.F. King & Co., a total of $1,068,736,000 in aggregate principal amount of the notes were validly tendered and not validly withdrawn as of the early tender deadline.
The breakdown of the aggregate principal amount of each series of notes that were validly tendered and not validly withdrawn as of the early tender deadline is as follows:
- 4.350% senior notes due 2028:
- Aggregate principal amount outstanding prior to the tender offer: $1,500,000,000
- Aggregate principal amount tendered as of the early tender deadline: $752,236,000
- Aggregate principal amount expected to be accepted for purchase: $500,000,000
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Expected proration factor: 66.5%
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7.000% senior debentures due 2028:
- Aggregate principal amount outstanding prior to the tender offer: $250,711,000
- Aggregate principal amount tendered as of the early tender deadline: $52,940,000
- Aggregate principal amount expected to be accepted for purchase: $0
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Expected proration factor: Not applicable
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5.000% senior notes due 2048:
- Aggregate principal amount outstanding prior to the tender offer: $1,305,000,000
- Aggregate principal amount tendered as of the early tender deadline: $263,560,000
- Aggregate principal amount expected to be accepted for purchase: $0
- Expected proration factor: Not applicable
Because the total aggregate principal amount of the notes validly tendered and not validly withdrawn at or prior to the early tender deadline exceeds $500,000,000, the company does not expect to accept any additional notes that are tendered after the early tender deadline.
The early settlement date for the tender offer is currently expected to be September 11, 2025, and all payments for notes purchased in connection with the early tender deadline will include accrued and unpaid interest on the principal amount of notes tendered and accepted for purchase from the last interest payment date applicable to the relevant series of notes up to, but not including, the early settlement date.
Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC are serving as dealer managers for the tender offer, and D.F. King & Co. is the tender and information agent.
Equitable Holdings, Inc. is a leading financial services holding company with more than $1 trillion in assets under management and administration as of June 30, 2025, and more than 5 million client relationships globally. The company comprises Equitable, AllianceBernstein, and Equitable Advisors, LLC, providing retirement and protection strategies, diversified investment services, and financial planning, wealth management, retirement planning, protection, and risk management services.
The company's investor relations contact is Erik Bass at (212) 314-2476, and the media relations contact is Laura Yagerman at (212) 314-2010. As a result of these announcements, the company's shares have moved -0.58% on the market, and are now trading at a price of $52.91. If you want to know more, read the company's complete 8-K report here.
