Latham & Watkins Advises on Bread Financial’s Upsized Additional Private Offering of US$300 Million of Senior Notes

Bread Financial Holdings, Inc. (NYSE: BFH) has announced the pricing and upsize of its previously announced offering of an additional US$300 million in aggregate principal amount of its 9.750% senior notes due 2029, in a private offering that is exempt from the registration requirements of the Securities Act of 1933. The size of the offering reflects an increase of US$100 million in aggregate principal amount of Additional Notes from the previously announced offering size of US$200 million. The Additional Notes will be sold at a price of 101% of the principal amount thereof. The closing of the issuance of the Additional Notes is expected to occur on January 19, 2023, subject to customary closing conditions, and is expected to result in approximately US$300 million in net proceeds to the Company, after deducting the initial purchasers’ discount but before the Company’s estimated offering expenses.

Latham & Watkins LLP represents the underwriters in the offering with a team led by New York partners Corey Wright and Erika Weinberg, with associate Sofia Sitterson. Advice was also provided on tax matters by New York partner Elena Romanova, with associate Michael Yu.