By Paul A. Harris
Portland, Ore., May 21 - Springleaf Finance Corp. priced an upsized $300 million issue of seven-year senior notes (Caa1/CCC+/) at par to yield 6% on Tuesday, according to a syndicate source.
The deal was upsized from $250 million.
The yield printed at the tight end of the 6% to 6¼% yield talk.
BofA Merrill Lynch, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC were the joint bookrunners.
Proceeds will be used for general corporate purposes.
The issuer is an Evansville, Ind.-based consumer finance company formerly known as American General Finance Inc.
| Issuer: | Springleaf Finance Corp.
|
| Amount: | $300 million, increased from $250 million
|
| Maturity: | June 1, 2020
|
| Securities: | Senior notes
|
| Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC
|
| Coupon: | 6%
|
| Price: | Par
|
| Yield: | 6%
|
| Spread: | 471 bps
|
| Call protection: | Non-callable
|
| Make-whole: | Treasuries plus 50 bps
|
| Trade date: | May 21
|
| Settlement date: | May 29
|
| Ratings: | Moody's: Caa1
|
| Standard & Poor's: CCC+
|
| Distribution: | Rule 144A with registration rights and Regulation S
|
| Price talk: | 6% to 6¼%
|
| Marketing: | Roadshow
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
