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Bread Financial Announces Pricing of an Offering of Depositary Shares Representing Interests in Its Series B Preferred Stock

BFH
  • Bread Financial Holdings, Inc. announced the pricing of an underwritten public offering of 4,800,000 depositary shares, each representing a 1/40th interest in Series B Preferred Stock with an 8.875% fixed rate & $25 liquidation preference per share.
  • The underwriters, led by Morgan Stanley, RBC Capital Markets, UBS, Wells Fargo, & Keefe, Bruyette & Woods, were granted an option to purchase up to an additional 720,000 depositary shares within 30 days.
  • The offering is expected to close on May 12, 2026, subject to customary conditions, & is projected to generate approximately $115,320,000 in net proceeds.
  • Bread Financial intends to list the depositary shares on The New York Stock Exchange.
  • Net proceeds will be used for general corporate purposes, including potential contributions to subsidiary bank Comenity Capital Bank & share repurchases.
  • The offering is conducted via an effective Form S-3 registration statement filed with the SEC.