OneMain Finance to price $250 million tap of 9% notes due 2029 in Thursday drive-by

By Paul A. Harris

Portland, Ore., Nov. 9 – OneMain Finance Corp. plans to price a $250 million add-on to its 9% senior notes due January 2029 (Ba2/BB) in a Thursday drive-by, according to market sources.

The notes become subject to an initial call on July 15, 2025 at 104.5.

BNP Paribas Securities Corp., Mizuho Securities USA Inc., Barclays, Citigroup Global Markets Inc., Citizens Capital Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., NatWest Markets Securities Inc., RBC Capital Markets LLC, Regions Securities LLC, SG Americas Securities LLC, TD Securities (USA) LLC and Truist Securities Inc. are the joint bookrunners.

The Evansville, Ind.-based financial services company plans to use the proceeds to redeem a portion of its 6 1/8% senior notes due 2024.

The original $500 million issue of 9% notes due 2029 priced in June 2023.

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