Nov 3, 11:34 AM ET
Bread Financial Holdings issued and sold 5,000,000 depositary shares on November 3, 2026, each representing a 1/40th interest in a share of its 9.375% Series C Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, which has a $1,000 liquidation preference per share. The Series C terms restrict dividends on junior stock and repurchases of parity or junior stock if the company does not declare and pay or set aside dividends on the Series C for the prior dividend period. Holders of the depositary shares receive proportional dividend, voting, redemption and liquidation rights.
- 5,000,000 depositary shares issued and sold on November 3, 2026, each a 1/40th interest in a Series C preferred share
- Series C carries a 9.375% fixed rate reset, non-cumulative perpetual preferred stock with a $1,000 liquidation preference per share
- Underwriters hold a 30-day option, from October 27, 2026, to buy up to 750,000 additional depositary shares
- Certificate of Designations filed with Delaware on November 2, 2026 and effective November 3, 2026
Read the filing on SEC.gov ↗
Oct 27, 7:54 PM ET
Bread Financial Holdings priced an underwritten public offering of 5,000,000 depositary shares, each representing a 1/40th interest in its 9.375% Series C fixed rate reset non-cumulative perpetual preferred stock. The company expects approximately $120,162,500 in net proceeds, assuming no exercise of the underwriters' option, for general corporate purposes that may include contributing or lending funds to its subsidiary bank, Comenity Capital Bank, and share repurchases. Shareholders will see new preferred securities outstanding once the offering closes, expected November 3, 2026.
- 5,000,000 depositary shares priced, each with a $25 liquidation preference (equivalent to $1,000 per Series C preferred share)
- Underwriters have a 30-day option to buy up to an additional 750,000 depositary shares at the same price
- Expected net proceeds of approximately $120,162,500 without option exercise; closing expected November 3, 2026
- Proceeds may fund general corporate purposes, including contributions or loans to Comenity Capital Bank and share repurchases
Read the filing on SEC.gov ↗
Oct 27, 8:12 AM ET
Bread Financial announced the launch of an underwritten public offering of depositary shares, each representing a 1/40th interest in its Series C Non-Cumulative Perpetual Preferred Stock, with a $25 liquidation preference per depositary share. The company intends to use net proceeds for general corporate purposes, which may include contributing or lending funds to its subsidiary bank, Comenity Capital Bank, and share repurchases. The filing does not state the offering size, and completion depends on market and other conditions.
- Each depositary share has a $25 liquidation preference, equivalent to $1,000 per Series C preferred share
- Proceeds may go to general corporate purposes, including the subsidiary bank Comenity Capital Bank and share repurchases
- The company expects to apply to list the depositary shares on the New York Stock Exchange
- Morgan Stanley & Co. LLC, Keefe, Bruyette & Woods, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities are joint bookrunners
Read the filing on SEC.gov ↗
Oct 22, 6:56 AM ET
Bread Financial reported September 2026 credit metrics, including a delinquency rate of 5.57%, down from 6.04% a year earlier. Average credit card and other loans rose 6.4% year over year for the month, to $18.74 billion. The release does not include revenue, earnings or guidance, and the filing gives no prior-year comparison for net principal loss rates.
- Delinquency rate was 5.57% as of September 30, 2026, versus 6.04% as of September 30, 2025.
- Net principal loss rate was 5.99% for September 2026 and 6.40% for the three months ended September 30, 2026.
- Average credit card and other loans rose 6.4% year over year for September to $18.74 billion; end-of-period loans were $18.85 billion.
Read the filing on SEC.gov ↗
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