News Column

Synchrony Financial Announces Pricing of its Senior Notes Offering

August 6, 2014



STAMFORD, Conn.--(BUSINESS WIRE)-- SYNCHRONY FINANCIAL (“Synchrony”) announced the pricing of its inaugural offering of $3.6 billion aggregate principal amount of senior notes. The offering consists of four tranches of senior notes:

  • $500 million of 1.875% senior notes due 2017;
  • $1.1 billion of 3.000% senior notes due 2019;
  • $750 million of 3.750% senior notes due 2021; and
  • $1.25 billion of 4.250% senior notes due 2024.

    The notes are expected to be issued on or about August 11, 2014, subject to customary closing conditions. Synchrony intends to use an aggregate of $600 million of the net proceeds from the offering to prepay outstanding principal amounts under the New GECC Term Loan Facility and New Bank Term Loan Facility (each as entered into in connection with the Synchrony initial public offering) on a pro rata basis, and to use the remaining net proceeds to invest in liquid assets to further increase the size of its liquidity portfolio and for such additional uses as it may determine in the future.

    A registration statement relating to this offering was filed with, and declared effective by, the Securities and Exchange Commission. The offering is being made solely by means of a prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the final prospectuses, when they become available, may be obtained from:

  • Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (800) 831-9146, email: prospectus@citi.com;
  • Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: (866) 471-2526, email: prospectus-ny@ny.email.gs.com; or
  • J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, telephone collect at 1-212-834-4533.

    ©2014 Synchrony Bank/Synchrony Financial, All rights reserved.



    SYNCHRONY FINANCIAL

    Investors:

    Greg Ketron, 203-585-6291

    greg.ketron@synchronyfinancial.com

    or

    Media:

    Samuel Wang, 203-585-2933

    samuel.wang@synchronyfinancial.com

    Dori Abel, 203-585-6702

    dori.abel@synchronyfinancial.com


    Source: SYNCHRONY FINANCIAL


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    Source: Business Wire


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