You should not place undue reliance on any forward-looking statements contained in this press release. OneMain and its team members are dedicated to the communities where they live and work.Ĭautionary Note Regarding Forward-Looking StatementsĬertain 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, OMFC’s intended use of net proceeds from the offering. With about 1,400 locations throughout 44 states, the company is committed to helping people with their personal loan needs. OneMain Financial (NYSE: OMF) has been offering responsible and transparent loans for over 100 years. 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. 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. Joint Book-Running Managers and Joint Social Bond Structurers and Coordinators: Second-Party Opinion Provider: S&P Global Ratings Use of Proceeds: Finance or re-finance, in part or in full, a portfolio of new or existing loans that meet the eligibility criteria of OneMain’s Social Bond Framework Optional redemption: Non-callable until January 15, 2024, with the first call price at par + 50% of coupon, declining ratably to par one year prior to maturityĬurrent Issue Ratings: Ba3 / BB- / BB+ (Moody’s / S&P / Kroll) Through philanthropic donations and community partnerships, the company has made investments to support financial literacy, community and economic development, and racial and social justice initiatives – including more than $1 million to pandemic relief efforts in 2020.Īmount: $750 million aggregate principal amount of senior notes In addition to personal loans, OneMain offers free financial education opportunities for customers and the wider community in the form of town halls, a library of articles and blogs, and micro-courses on budgeting, savings and credit. OneMain serves these customers responsibly through business practices that include, but are not limited to, the company’s Customer Bill of Rights, Statement on Human Rights and ability-to-pay underwriting. Generally, these counties are more rural, have a higher percentage of non-white residents, have higher poverty rates and their residents earn less when compared to the rest of the United States. OneMain’s Social Bond provides a concrete and measurable funding vehicle to advance the company’s corporate social responsibility program.Ībout 25% of OneMain’s customers live in “credit-insecure” and “credit-at-risk” counties, as defined by the Federal Reserve Bank of New York. Ramirez & Company, Inc., and woman- and minority-owned Siebert Williams Shank & Co., LLC.Ĭommitment to Corporate Social Responsibility Seelaus & Co., LLC, Hispanic-owned Samuel A. The company leveraged longstanding relationships with diverse broker-dealers to complete this Social Bond transaction, including service-disabled veteran-owned Academy Securities, Inc., woman-owned R. We will continue to build our business around serving our customers responsibly, empowering them financially and making a positive social impact on our communities.” “This bond is a testament to our commitment to financial inclusion and reinforces the work we are already doing to provide underrepresented communities with access to safe, affordable credit. “OneMain’s first Social Bond is an important milestone in our mission to improve the financial well-being of hardworking Americans,” said OneMain Chairman and CEO Doug Shulman. At least 75% of the loans funded by the Social Bond will be allocated to women or minority borrowers as outlined in OneMain’s Social Bond Framework, which is available on OneMain’s Investor Relations website. This transaction supports OneMain’s continued efforts to provide responsible loans to credit-insecure and credit-at-risk communities as defined by the Federal Reserve Bank of New York. (NYSE: OMF) (“OMH”), the country’s largest installment lender serving hardworking Americans with nonprime credit, announced today that its direct, wholly-owned subsidiary OneMain Finance Corporation (“OMFC”) has closed its inaugural Social Bond issuance with an aggregate principal amount of $750 million, the net proceeds of which are committed to serving credit-disadvantaged communities around the country. NEW YORK-( BUSINESS WIRE)-OneMain Holdings, Inc.
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