Synchrony Financial has priced $1 billion of its 3.950% senior notes due Dec. 1, 2027.
Interest will be payable in arrears on June 1 and Dec. 1 of each year, beginning June 1, 2018. The trade date is Nov. 28 and the settlement date is Dec. 1.
The company may redeem the notes on or after Sept. 1, 2027, from time to time, in whole or in part, at a price equal to 100% of the principal amount of the notes, plus accrued and unpaid interest to, but excluding, the redemption date.
Barclays Capital Inc., Mizuho Securities USA LLC and Morgan Stanley & Co. LLC are the joint book-running managers. TD Securities (USA) LLC is the senior co-manager. Blaylock Van LLC, CastleOak Securities LP, Mischler Financial Group Inc., R. Seelaus & Co. Inc. and The Williams Capital Group LP are the co-managers.
