Discover Financial Services plans to sell senior notes Friday

By Andrea Heisinger

New York, July 9 - Discover Financial Services Inc. is planning a sale of senior notes, according to a 424B5 filing with the Securities and Exchange Commission on Thursday.

A source close to the sale said the offering is pricing on Friday.

The notes feature a change-of-control put of 101%. The company recently completed a common stock sale, which is not dependent on the senior notes sale.

The bookrunner is J.P. Morgan Securities Inc.

Proceeds will go for general corporate purposes.

The credit card and electronic payment company is based in Riverwoods, Ill.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.