Bread Financial Holdings, Inc. announced early tender results for its cash tender offers and extended the total consideration through the expiration date. As of the August 6, 2025, early participation date, $28,402,000 in 9.750% Senior Notes due 2029 and $121,000 in 8.375% Fixed-Rate Reset Subordinated Notes due 2035 had been validly tendered.
These tendered notes are expected to be accepted for purchase, with a total consideration of $1,070 for each $1,000 principal amount of 2029 Notes and $1,025 for each $1,000 principal amount of 2035 Notes. Settlement for these early tenders is anticipated on August 11, 2025.
The company amended the tender offers to provide that the applicable total consideration, including the early participation amount, will be paid for all notes validly tendered through the August 21, 2025, expiration date. This adjustment ensures that all participating bondholders receive the full premium, facilitating the company's debt optimization strategy.
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