OneMain’s Springleaf unit to sell $400 million five-year notes

By Paul Deckelman

New York, May 9 – OneMain Holdings Inc. announced plans to sell $400 million of five-year senior notes on Tuesday.

High-yield syndicate sources said the notes would be marketed to prospective buyers via an 11 a.m. ET global investor call and net roadshow.

The Evansville, Ind.-based consumer finance company’s wholly owned indirect subsidiary, Springleaf Finance Corp., will be the official issuer of the notes.

The Securities and Exchange Commission-registered offering will come to market via joint bookrunning managers Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., Morgan Stanley & Co LLC, Natixis Securities America LLC, RBC Capital Markets Corp. and SG Americas Securities LLC, as well as co-managers Keefe Bruyette & Woods, Sander O’Neill & Partners LP and Williams Capital Group LP.

The notes will be non-callable, other than via a make-whole call at Treasuries plus 50 basis points.

The company plans to use the new deal proceeds for general corporate purposes, which may include debt repayments and repurchases.

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