Brighthouse Financial plans to price series B preferred stock

By Devika Patel

Knoxville, Tenn., May 18 – Brighthouse Financial, Inc. plans to market series B non-cumulative preferred stock, according to a 424B5 filed with the Securities and Exchange Commission.

Wells Fargo Securities LLC, BofA Securities Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and J.P. Morgan Securities LLC are the bookrunners.

The preferreds are redeemable on any dividend payment date beginning June 25, 2025 at par of $25.00 plus any unpaid dividends. The preferreds may be redeemed before June 25, 2025 at a premium.

The company plans to list the new preferreds on the Nasdaq exchange under the ticker symbol “BHFAO.”

Proceeds will be used to repay borrowings under the company’s unsecured term loan facility.

Brighthouse is a Charlotte, N.C.-based insurance provider.

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