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OneMain Holdings unit closes senior note offering

A public offering of senior notes by OneMain Holdings Inc. unit Springleaf Finance Corp. closed May 11.

Springleaf Finance issued $900 million in aggregate principal amount of its 7.125% senior notes due March 15, 2026. Interest on the notes will be payable March 15 and Sept. 15 of each year, beginning Sept. 15.

Springleaf Finance intends to use the net proceeds from the offering to redeem the remaining $400 million in aggregate principal amount of OneMain Financial Holdings LLC's 7.250% senior notes due 2021 and for other general corporate purposes, which may include other debt repurchases and repayments.

The notes can be redeemed at any time and from time to time, in whole or in part, at Springleaf Finance's option.