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Bread greenshoe exercised, ups 4.25% convertibles to $316.25 million
Chicago, June 13 – Underwriters for Bread Financial Holdings Inc.’s offering of 4.25% five-year convertible notes exercised in full their $41.25 million greenshoe on June 12, according to an 8-K filing with the Securities and Exchange Commission.
The greenshoe exercise lifts the total issue size to $316.25 million.
The offering closed on June 13.
The initial conversion premium, as previously reported, was 25%.
Proceeds, after paying for capped call transactions, will be used to repay and terminate outstanding loans under the company’s credit agreement from June 2017.
Bread Financial is a Columbus, Ohio-based fintech company.
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