Bread Financial sells 5 million Series C preferred depositary shares
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.
Key points
- 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
The filing
Written by AI on Nov 7, 2026, 11:17 PM ET, from this filing only.
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.