OneMain Holdings, Inc. Announces Pricing of $500 Million Aggregate Principal Amount of Senior Notes Due 2029

Rhea-AI Summary

OneMain Holdings, Inc. announces pricing of $500 million senior notes offering

Positive

• OneMain Finance Corporation priced $500 million senior notes due 2029
• Net proceeds will be used for general corporate purposes

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- OneMain Holdings, Inc. (NYSE: OMF) (“OMH”) announced today that its direct, wholly-owned subsidiary OneMain Finance Corporation (“OMFC”) priced $500 million aggregate principal amount of its 9.00% senior notes due 2029 (the “2029 notes”) in connection with its previously announced registered 2029 notes offering.

The 2029 notes will be guaranteed on an unsecured basis by OMH (the “guarantee”). The closing of the offering is expected to occur on June 22, 2023, subject to satisfaction of customary closing conditions.

OMFC intends to use the net proceeds from this offering for general corporate purposes, which may include debt repurchases and repayments.

The 2029 notes offering is being made only by means of a prospectus supplement and accompanying base prospectus. OMH and OMFC have filed a registration statement (including a base prospectus) and a preliminary prospectus supplement with the U.S. Securities and Exchange Commission (“SEC”) for the offering to which this communication relates and will file a final prospectus supplement relating to the offering. Prospective investors should read the prospectus supplement and base prospectus in that registration statement and other documents OMH and OMFC have filed or will file with the SEC for more complete information about OMH and OMFC and the offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the final prospectus supplement and the accompanying base prospectus for the offering, when available, may be obtained by contacting: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone: (888) 603-5847 or email: barclaysprospectus@broadridge.com; and SG Americas Securities, LLC, 245 Park Avenue, 4^th Floor, New York, New York 10167, Attn: Syndicate Desk, by telephone: (855) 851 2108 or email: us-glfi-syncap@sgcib.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement or the shelf registration statement or prospectus.

About OneMain Holdings, Inc.

OneMain Financial (NYSE: OMF) is the leader in offering nonprime customers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. OneMain empowers its customers to solve today’s problems and reach a better financial future through personalized solutions available online and in 1,400 locations across 44 states. OneMain is committed to making a positive impact on the people and the communities it serves.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, OMH’s and OMFC’s intention to consummate the offering and issue the 2029 notes and the guarantee, the anticipated closing date and OMFC’s intended use of net proceeds from the offering. The consummation of the offering is subject to market conditions and other factors that are beyond our control. Accordingly, no assurance can be given that the offering will be completed on the contemplated terms or at all and you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Risk Factors” in the prospectus supplement related to the offering, in OMH’s and OMFC’s Combined Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and in OMH’s and OMFC’s other filings with the SEC. Neither OMH nor OMFC undertakes any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230620812863/en/

OneMain Holdings, Inc.

David R. Schulz, 212-359-2426

Source: OneMain Holdings, Inc.

FAQ

What is the purpose of the $500 million senior notes offering?

The net proceeds will be used for general corporate purposes.

Who is the direct, wholly-owned subsidiary of OneMain Holdings, Inc.?

OneMain Finance Corporation is the direct, wholly-owned subsidiary of OneMain Holdings, Inc.

When is the closing of the offering expected?

The closing of the offering is expected to occur on June 22, 2023.

How can I obtain the prospectus supplement and base prospectus for the offering?

You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov or by contacting Barclays Capital Inc. or SG Americas Securities, LLC.