Springleaf Finance to sell $500 million five-year notes on Wednesday

By Paul A. Harris

Portland, Ore., Feb. 20 – Springleaf Finance Corp. plans to price a $500 million public offering of five-year senior bullet notes (existing ratings Ba3/BB-) in a Wednesday drive-by trailing a late-morning conference call with investors, according to a market source.

Left lead Barclays will bill and deliver. Barclays and SG CIB are the joint active bookrunners.

Citigroup Global Markets Inc., Citizens Bank, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and RBC Capital Markets LLC are the other bookrunners.

NatWest Markets, Blaylock Van LLC and Ramirez & Co. Inc. are the co-managers.

The notes feature a make-whole call at Treasuries plus 50 basis points until six months prior to maturity, then become callable at par. They are otherwise non-callable.

Proceeds will be used to redeem the Springleaf Finance 5¼% senior notes due December 2019.

The issuer is an indirect subsidiary of OneMain Holdings, Inc., an Evansville, Ind.-based consumer finance company.

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