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OneMain Holdings unit's note offering closes

OneMain Holdings Inc. subsidiary Springleaf Finance Corp.'s offering of $1.25 billion of 6.875% senior notes due March 15, 2025, closed March 12.

Springleaf Finance intends to use the net proceeds from the offering for general corporate purposes, which may include a partial redemption of 7.250% senior notes due 2021 and other debt repurchases and repayments.

The notes will bear interest at a rate of 6.875% per year, payable semiannually in arrears March 15 and Sept. 15 of each year, beginning Sept. 15.

Barclays Capital Inc., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, RBC Capital Markets LLC and SG Americas Securities LLC served as joint book-running managers for the offering. Sandler O'Neill & Partners LP and The Williams Capital Group LP served as co-managers.