OneMain Holdings, Inc. Announces Proposed Offering of Senior Notes due 2028

Rhea-AI Summary

OneMain Holdings, Inc. (NYSE: OMF) announced a proposed offering of $500 million in senior notes due 2028 by its subsidiary, OneMain Finance Corporation (OMFC). The notes will be secured by a guarantee from OneMain Holdings. Proceeds are intended for general corporate purposes, including debt management. The offering is subject to market conditions and may not be finalized. Investors are encouraged to review the associated prospectus for comprehensive details. This press release does not constitute an offer to sell securities in any jurisdiction.

Positive

• Proposed offering of $500 million in senior notes could strengthen corporate financial stability.
• Funds may be used for debt repurchases, potentially reducing financial liabilities.

Negative

• Offering is subject to market conditions, creating uncertainty about completion.
• No assurance on the consummation of the offering, which may impact liquidity.

OneMain Holdings, Inc. (NYSE: OMF) (“OMH”) announced today that its direct, wholly-owned subsidiary OneMain Finance Corporation (“OMFC”) is proposing to offer $500 million aggregate principal amount of its senior notes due 2028 (the “2028 notes”), subject to market and other conditions. The 2028 notes will be guaranteed on an unsecured basis by OMH (the “guarantee”). There can be no assurance that the offering of the 2028 notes will be consummated.

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

The 2028 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 preliminary prospectus supplement and the accompanying base prospectus for the offering may be obtained by contacting: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 1-212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com or SG Americas Securities LLC, ATTN: Bond Syndicate, 245 Park Avenue, New York, NY 10167, telephone: 1-855-881-2108, or by emailing: us-glfi-syn-cap@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 Holdings, Inc. (NYSE: OMF) has been offering responsible and transparent loans for over 100 years. With approximately 1,400 locations throughout 44 states, the company is committed to helping people with their personal loan needs. OneMain and its team members are dedicated to the communities where they live and work.

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 2028 notes and the guarantee 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, 2020, in OMH’s and OMFC’s subsequent Combined Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021, respectively, 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.

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FAQ

What is the purpose of OneMain's proposed $500 million senior note offering?

The proceeds will be used for general corporate purposes, including debt repurchases and repayments.

When is the maturity date for OneMain's proposed senior notes?

The senior notes are due in 2028.

What risks are associated with OneMain's senior note offering?

The offering is subject to market conditions, and there is no guarantee it will be completed.

Who is underwriting OneMain's senior notes offering?

The offering is being managed by Goldman Sachs & Co. LLC and SG Americas Securities LLC.