Moody’s rates Springleaf Finance notes B2

Moody's Investors Service said it assigned a B2 rating to the proposed $400 million five-year senior unsecured notes to be issued by Springleaf Finance Corp., a subsidiary of OneMain Holdings, Inc.

The rating outlook is positive.

The issuance could be upsized, based on the demand for the offering, and will be guaranteed on an unsecured basis by the holding company OneMain Holdings, which has a corporate family rating of B2, also with a positive outlook.

Moody’s said the B2 rating is based upon terms and conditions that are consistent with the issuer's existing senior unsecured debt. The notes will rank pari passu with all existing senior notes of Springleaf Finance and will mature in 2022.

Proceeds will be used for general corporate purposes, which may include debt repurchases.

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