EVANSVILLE, Ind.--(BUSINESS WIRE)--
OneMain Holdings, Inc. (NYSE:OMF) (“OMH”) announced today that its
indirect, wholly owned subsidiary Springleaf Finance Corporation (“SFC”)
priced $1 billion aggregate principal amount of 8.250% senior notes due
December 2020 (the “notes”) in connection with its previously announced
registered notes offering. The notes will be guaranteed on an unsecured
basis by OMH (the “guarantee”). The size of the offering of the notes
has been upsized from $400 million to $1 billion, with approximately
$600 million to be used to repurchase certain of SFC’s outstanding
notes, primarily consisting of its 6.90% senior notes due December
2017.* Following the expected repurchase, the company’s remaining
December 2017 senior note maturities will total approximately $1
billion. The closing of the offering is expected to occur on April 11,
2016, subject to customary closing conditions.
SFC intends to use the remaining net proceeds, after accounting for the
repurchase of the senior notes as described above, for general corporate
purposes, which may include further debt repurchases and repayments.
The offering is being made only by means of a prospectus supplement and
accompanying base prospectus. OMH and SFC have filed a registration
statement (including a base prospectus) and a preliminary prospectus
supplement with the U.S. Securities and Exchange Commission (“SEC”) for
the offering to which this communication relates and will file a final
prospectus supplement relating to the offering. Prospective investors
should read the prospectus supplement and base prospectus in that
registration statement and other documents OMH and SFC have filed or
will file with the SEC for more complete information about OMH and SFC
and this offering. You may obtain these documents for free by visiting
EDGAR on the SEC’s website at www.sec.gov.
Alternatively, copies of the final prospectus supplement and the
accompanying base prospectus for the offering, when available, may be
obtained by contacting Credit Suisse Securities (USA) LLC by e-mail at highyield.prospectus@credit-suisse.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of any of
the securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The securities being offered
have not been approved or disapproved by any regulatory authority, nor
has any such authority passed upon the accuracy or adequacy of the
prospectus supplement or the shelf registration statement or prospectus.
About OneMain Holdings, Inc.
OneMain Holdings, Inc. is a leading consumer finance company providing
loan products to customers through its nationwide branch network and the
internet. The company has a 100-year track record of high quality
origination, underwriting and servicing of personal loans, primarily to
non-prime consumers.
Cautionary Note Regarding Forward Looking Statements
Certain statements in this press release may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, including, but not limited to, OMH’s and
SFC’s intention to consummate this offering and issue the notes and the
guarantee and SFC’s intended use of proceeds of the offering.The
consummation of the offering is subject to market conditions and other
factors that are beyond our control. Accordingly, no assurance can be
given that the offering will be completed on the contemplated terms or
at all and you should not place undue reliance on any forward-looking
statements contained in this press release. For a discussion of some of
the risks and important factors that could affect such forward-looking
statements, see the sections entitled “Risk Factors” in the prospectus
supplement related to the offering, in OMH’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2015, in SFC’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2015, and in OMH’s and
SFC’s other filings with the SEC. Neither OMH nor SFC undertakes any
obligation to release publicly any revisions to forward-looking
statements made by it to reflect events or circumstances occurring after
the date hereof or the occurrence of unanticipated events.
* Final accounting treatment is being evaluated.
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OneMain Holdings, Inc.
David R. Schulz, 812-468-5180
Source: OneMain Holdings, Inc.