Bread Financial Holdings, Inc. announced the commencement of a modified 'Dutch Auction' cash tender offer to purchase up to $150.0 million in aggregate principal amount of its 9.750% Senior Notes due March 2029. The tender offer is being made on specific terms and conditions outlined in the Offer to Purchase.
The early participation deadline for the tender offer is set for 5:00 p.m., New York City time, on June 4, 2025, with the overall offer expiring on June 20, 2025. Holders who tender their notes by the early participation deadline and have them accepted for purchase will be eligible to receive an Early Participation Amount of $50.00 per $1,000 principal amount.
The company may elect to have an early payment date, currently expected to be June 9, 2025, for notes validly tendered by the early participation deadline. This initiative is part of Bread Financial's ongoing efforts to manage its debt profile and optimize its capital structure.
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