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S&P rates OneMain notes BB-
S&P said it assigned a BB- rating to OneMain Finance Corp.'s planned $500 million of senior unsecured notes due 2027.
The issuer is a direct, wholly owned subsidiary of OneMain Holdings Inc., rated BB-. The notes will be guaranteed on an unsecured basis by OneMain.
The company intends to use the proceeds to finance or refinance, in part or in full, a portfolio of new or existing personal loans that meet the eligibility criteria of OneMain's social bond framework.
The outlook is positive.
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