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Springleaf Finance upsizes, prices offering of additional notes

OneMain Holdings Inc. unit Springleaf Finance Corp. priced a registered add-on offering of $700 million of its 7.125% senior notes due March 15, 2026.

The offering size was upsized from the previously disclosed $400 million.

The notes are being offered as an add-on to Springleaf's existing $900 million of 7.125% senior notes due 2026, issued in May. The additional notes and the existing notes will be treated as a single class of debt securities and will have the same terms. The additional notes will be guaranteed on an unsecured basis by OneMain.

The offering is expected to close Aug. 10.

The company plans to use the net proceeds for general corporate purposes, which may include debt repurchases and repayments.