Moody’s rates Springleaf notes B2

Moody's Investors Service said it assigned a B2 rating to the proposed five-year senior unsecured notes in the amount of $500 million to be issued by Springleaf Finance Corp., a subsidiary of Springleaf Holdings, Inc.

The outlook is stable.

The B2 rating is based upon terms and conditions that are consistent with the issuer's existing senior unsecured debt. New notes will rank pari passu with all existing senior notes of Springleaf Finance and will mature in 2019.

Springleaf intends to repurchase $192 million of $2.4 billion of the 2017 notes outstanding at a premium to principal amount and use the remaining proceeds from the offering for general corporate purposes, including further debt repurchases and possible acquisitions.

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