Convertibles Calendar: Bread Financial, Ventas on tap

June 8

BREAD FINANCIAL HOLDINGS INC.:

• $275 million five-year convertible notes

• Greenshoe of $41.25 million

• Coupon of 4.25% to 4.75% and initial conversion premium of 20% to 25%

• Rule 144A

• J.P. Morgan Securities LLC

• Non-callable until June 21, 2026 and then subject to a 130% hurdle

• Columbus, Ohio-based fintech company

VENTAS REALTY LP:

• $500 million offering of three-year notes exchangeable for Ventas Inc. shares

• Greenshoe of $75 million

• Coupon of 3.25% to 3.75% and initial conversion premium of 22.5% to 27.5%

• Rule 144A

• J.P. Morgan Securities LLC, BofA Securities Inc. and Morgan Stanley & Co. LLC

• Freely callable if it is determined redemption of the notes is necessary to maintain Ventas’ status as a REIT

• Chicago-based health care and real estate investment trust

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