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S&P gives BB to OneMain Finance notes
S&P said it rated OneMain Finance Corp.'s planned $400 million of senior unsecured notes due 2030 BB. OneMain Finance is a direct, wholly owned subsidiary of OneMain Holdings Inc., which will guarantee the notes.
The company intends to use the proceeds and an additional $400 million raised last month to redeem $558 million of 6 1/8% notes due March 2024, also rated BB, and for general corporate purposes, which may include debt repurchases and repayments.
The outlook is stable.
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