OneMain Receives Social Project Bond of the Year Award from Environmental Finance

Rhea-AI Summary

OneMain Financial was awarded the “Social Project Bond of the Year” by Environmental Finance for its $750 million Social Bond issued in June 2021. Recognized by over 40 investors and experts, this bond aims to finance loans in credit-underserved areas of the U.S., focusing on women and minority borrowers. CFO Micah Conrad highlighted the bond issuance as an extension of their commitment to providing responsible credit access for nonprime customers. OneMain continues to lead in social finance with its new Social ABS Framework.

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• Awarded 'Social Project Bond of the Year' by Environmental Finance.
• $750 million Social Bond recognized for financing loans in underserved areas.
• Focus on women and minority borrowers helps increase credit access.

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• None.

NEW YORK--(BUSINESS WIRE)-- OneMain Financial, the leader in offering nonprime customers responsible access to credit, was awarded the “Social Project Bond of the Year” from Environmental Finance. OneMain’s $750 million Social Bond, issued in June 2021, was pronounced the winner after consideration from a panel of more than 40 investors and industry experts.

“Our approach to this bond issuance was a natural extension of how we operate our business. We embrace our role as the leader in offering nonprime customers access to responsible credit,” said OneMain’s Chief Financial Officer Micah Conrad. “We appreciate this recognition from Environmental Finance and look forward to continuing this important work.”

OneMain’s social bond finances loans in credit-underserved areas of the United States, as defined by the Federal Reserve Bank of New York. In addition, at least 75% of the funds in these underserved areas will be distributed to women or minority borrowers, who historically have had fewer options for securing credit. All loans issued will meet the eligibility criteria described in OneMain’s Social Bond Framework.

OneMain is continuing its leadership and innovation in social finance in 2022 with the publication of its Social ABS Framework.

Read more about the award on the Environmental Finance website:

Social Project Bond of the Year announcement

Q&A: OneMain Financial brings credit and financial security to underserved communities

About OneMain Financial

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. We empower our 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 we serve. For additional information, please visit www.OneMainFinancial.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220331005768/en/

Kelly Ogburn

410-537-9028

kelly.ogburn@omf.com

Source: OneMain Financial

FAQ

What is the significance of the Social Project Bond awarded to OneMain Financial?

The award recognizes OneMain's $750 million Social Bond aimed at financing loans in credit-underserved areas, particularly for women and minority borrowers.

When was OneMain Financial's Social Bond issued?

OneMain Financial's Social Bond was issued in June 2021.

Who awarded OneMain Financial the Social Project Bond of the Year?

The award was given by Environmental Finance after assessment by a panel of over 40 investors and industry experts.

What percentage of OneMain's Social Bond funds goes to women or minority borrowers?

At least 75% of the funds from OneMain's Social Bond will be distributed to women or minority borrowers.

What is OneMain Financial's commitment regarding credit access?

OneMain Financial is committed to providing responsible credit access to nonprime customers and improving financial well-being.