OneMain Holdings, Inc. (NYSE: OMF) announced the offer of Senior Notes due 2028. The firm declared that its direct and fully-owned unit OneMain Finance Corporation (OMFC) has decided to launch an offer of $500 million aggregate principal amount of its senior notes due 2028, dependent on market and other requirements.
OMFC is planning to utilize the net profit from this offering for general business purposes. There are chances that the firm will use the profit to cover debt buybacks and repayments. Furthermore, the 2028 notes will be secured on an unsafe basis by OMH. There can be no guarantee that the offering of the 2028 notes will be achieved.
Shares of OneMain Holdings, Inc. (NYSE: OMF) headed lower-0.37 and recorded the change of -0.61% at the time of writing on Wednesday. In the past 52-week of the trading session, the share of the firm fluctuated between the 52-weeks low and high range of $25.11 and $63.19, respectively. The firm has a total market capitalization of $8.20 billion at the time of writing.
Additionally, The 2028 notes offering is being proposed only by way of a prospectus supplement and additional base prospectus. OMH and OMFC have submitted a registration statement and an initial prospectus supplement with the U.S. SEC for the offering to which this interaction correlates. Moreover, it will submit a final prospectus supplement regarding the offering.