Bread Financial Prices Depositary Share Offering
Analysis based on 7 articles · First reported May 05, 2026 · Last updated May 06, 2026
The offering of depositary shares by Bread Financial is expected to generate over $115 million in net proceeds, which can be used for general corporate purposes, including share repurchases, potentially boosting investor confidence and the company's financial flexibility. The listing on The New York Stock Exchange will also increase the visibility and liquidity of these new securities.
Bread Financial announced the pricing and launch of an underwritten public offering of 4,800,000 depositary shares, each representing a 1/40th interest in its 8.875% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B. The offering is expected to close on May 12, 2026, and generate approximately $115.32 million in net proceeds for Bread Financial, assuming no exercise of the underwriters' option. The company intends to use these proceeds for general corporate purposes, which may include contributing to its subsidiary, Bread Financial, and share repurchases. Morgan Stanley, Royal Bank of Canada — RBC Capital Markets, UBS, Wells Fargo — Wells Fargo, and Keefe, Bruyette & Woods are acting as joint bookrunners for the offering. Bread Financial also plans to list the Depositary Shares on The New York Stock Exchange.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard