Synchrony Financial to prepay GECC term loan, bank term loan via notes

By Tali Rackner

Norfolk, Va., Jan. 26 – Synchrony Financial plans to use the proceeds from a new senior note offering to prepay outstanding amounts under its General Electric Capital Corp. term loan facility and/or the bank term loan facility, according to a 424B5 filing with the Securities and Exchange Commission.

The GECC term loan facility currently bears interest at 4.157% and the bank term loan facility currently bears interest at 2.057%. Both mature on Aug. 5, 2019.

The company may use the remaining proceeds to invest in liquid assets to further increase the size of our liquidity portfolio or for such additional uses as we may determine.

Synchrony is a consumer financial services company based in Stamford, Conn.

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