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OneMain Holdings unit prices upsized $1B senior note offering

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OneMain Holdings unit prices upsized $1B senior note offering

OneMain HoldingsInc. said April 7 that its indirect, wholly owned subsidiary priced $1billion aggregate principal amount of 8.250% senior notes due December 2020 in connectionwith its registered notes offering.

The notes will be guaranteed on an unsecured basis by OneMainHoldings. The size of the offering of the notes has been upsized to $1 billion from$400 million.

Approximately $600 million will be used to repurchase certainof Springleaf Finance's outstanding notes, primarily consisting of its 6.90% seniornotes due December 2017. Following the expected repurchase, the company's remainingDecember 2017 senior note maturities will total approximately $1 billion. SpringleafFinance plans to use the remaining net proceeds for general corporate purposes,which may include further debt repurchases and repayments.

The closing of the offering is expected to occur April 11, subjectto customary closing conditions.