Bread Financial Completes $31.4M Senior, Subordinated Notes Tender Offers

Bread Financial Holdings, Inc. announced the expiration and results of its cash tender offers for its 9.750% Senior Notes due 2029 and 8.375% Fixed-Rate Reset Subordinated Notes due 2035, which expired on August 21, 2025. The company received tenders totaling approximately $31.4 million in aggregate principal amount, primarily from the 2029 Notes, reflecting its ongoing strategic financial management efforts. J.P. Morgan Securities LLC served as the sole lead dealer manager for the offers, while several other financial institutions acted as co-dealer managers. The tender offers were conducted pursuant to the terms of the Offer to Purchase and were not valid after the expiration date. These results may impact Bread Financial’s debt profile and market positioning, with the company maintaining a Buy rating and a price target of $68.00 from analysts. The company emphasized that the tender offers complied with all relevant securities laws and were not made in jurisdictions where they would be unlawful.