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AI brief of an SEC Form 8-K · Bread Financial Holdings (BFH)

Bread Financial closes $400 million subordinated notes offering due 2035 at 8.375%

Neutral Impact 3 of 5 financing Written later

Bread Financial Holdings closed a $400 million offering of 8.375% fixed-rate reset subordinated notes due 2035 on March 10, 2025. The notes are unsecured, rank junior to the company's senior debt, and carry a fixed rate until June 15, 2030, after which the rate resets to the five-year U.S. Treasury rate plus 430 basis points.

Key points

  • Principal amount: $400 million; maturity June 15, 2035
  • Fixed 8.375% interest until the Reset Date of June 15, 2030, then five-year U.S. Treasury Rate plus 430 basis points
  • Interest paid semiannually on June 15 and December 15, starting June 15, 2025
  • Company may redeem in whole on June 17, 2030, or within 90 days after a regulatory capital treatment event, subject to regulatory approval

The filing

CompanyBread Financial Holdings (BFH)
Form8-K, current report
Filed with the SECMar 10, 2025, 4:11 PM ET
Accession number0001101215-25-000054

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 10, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.