Bread Financial (BFH) intends to offer, subject to market and other conditions, $400M aggregate principal amount of fixed-rate reset subordinated notes in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended. The Company intends to lend no less than $250M of the net proceeds of the Notes offering as subordinated debt to one of its subsidiary banks, Comenity Capital Bank, with the remaining proceeds intended to be used for general corporate purposes, which may include share repurchases.
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