Issuer:

Springleaf Finance Corporation

 

Aggregate Principal Amount:

 

$700,000,000

 

Title of Securities:

7.125% Senior Notes due 2026 (the “Notes”)

 

Maturity Date:

March 15, 2026

 

Offering Price:

100.50%, plus accrued interest from May 11, 2018

 

Coupon:

7.125%

 

Yield:

7.039%

 

Spread:

411 basis points

 

Benchmark Treasury:

1.625% UST due February 15, 2026

 

Gross Proceeds to Issuer:

$703,500,000

Net Proceeds to Issuer After Gross Spread:

$694,750,000

 

Gross Spread:

1.250%

 

Distribution:

 

SEC Registered

CUSIP and ISIN Numbers:

CUSIP: 85172F AN9
ISIN: US85172FAN96

 

Denominations:

$2,000 and integral multiples of $1,000

 

Interest Payment Dates:

March 15 and September 15

 

First Interest Payment Date:

September 15, 2018

 

Record Dates:

March 1 and September 1

 

Optional Redemption:

Other than as set forth in the next succeeding paragraph, the Notes are not subject to redemption prior to maturity, and there is no sinking fund for the Notes.

 

At any time and from time to time prior to the Stated Maturity of the Notes, the Issuer may redeem, at its option, all or part of the Notes upon not less than 30 nor more than 60 days prior notice (with a copy to the Trustee) at a redemption price equal to the sum of (i) 100% of the principal amount thereof, plus (ii) the Applicable Premium as of the date of redemption, plus (iii) accrued and unpaid interest to, but excluding, the date of redemption (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date).

 

“Applicable Premium” means with respect to any note on any date of redemption, as determined by the Issuer, the excess, if any, of (a) the sum of the present values of the remaining scheduled payments of principal and interest on the note (excluding accrued but unpaid interest to the date of redemption), discounted to the date of redemption on a semi-annual basis using a discount rate equal to the Treasury Rate as of such date of redemption plus 50 basis points; over (b) the principal amount of the note.

 

“Treasury Rate” means, as of any redemption date, the yield to maturity as of such redemption date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two business days prior to the redemption date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to the Stated Maturity of the Notes; provided, however, that if the period from the redemption date to the Stated Maturity of such Notes is less than one year, the weekly average yield on actively traded United States Treasury securities adjusted to a constant maturity of one year will be used.

 

 

Joint Book-Running Managers:

Goldman Sachs & Co. LLC

Citigroup Global Markets Inc.

RBC Capital Markets, LLC

Barclays Capital Inc.

SG Americas Securities, LLC

Credit Suisse Securities (USA) LLC

Morgan Stanley & Co. LLC

Deutsche Bank Securities Inc.

 

Co-Managers:

Academy Securities, Inc.

JMP Securities LLC

R. Seelaus & Co., Inc.

 

Trade Date:

August 8, 2018

 

Settlement Date:

August 10, 2018 (T+2)

 

Ratings¹:

B1 (Moody’s) / B+ (S&P) / BB+ (Kroll)

Offering Size:

The total offering size has been increased from $400 million to $700 million, which represents an increase of $300 million from the amount reflected in the Preliminary Prospectus Supplement.