OneMain Finance Corporation Completes $1 Billion Senior Notes Offering
The Firm represented the underwriters in connection with a registered offering by OneMain Finance Corporation (“OMFC”) of $1 billion aggregate principal amount of 6.750% Senior Notes due 2033. OMFC intends to use all of the net proceeds from this offering to repay outstanding secured facilities, with any excess to be used for general corporate purposes. The size of the offering was upsized from $500 million to $1 billion. To date, Simpson Thacher has represented the underwriters in connection with approximately $11 billion of debt financings by OMFC since 2023.
OMFC is a financial services company that operates in the United States and markets personal loans in 47 states.
The Simpson Thacher team included Dave Azarkh, Erica Yoon, Jacob Broz and Cara Capoccitti (Capital Markets); Jon Cantor and Paul Jansch (Tax); Jennie Getsin (Blue Sky); Pasco Struhs (ECEB); Ron Ben-Yehuda and Paige Brinton (IP); and Amanda Allexon and James Fine (Financial Institutions).