Paul Hastings Advises the Underwriters on Bread Financial’s Offering of Depositary Shares

Paul Hastings LLP advised the underwriters in connection with Bread Financial Holdings’ (NYSE: BFH) SEC-registered offering of 5,400,000 depositary shares, each representing a 1/40th interest in a share of its 8.875% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, par value $0.01 per share (the Series B Preferred Stock), with a liquidation preference of $25 per depositary share (equivalent to $1,000 per share of Series B Preferred Stock). The offering resulted in proceeds, before deducting offering expenses payable by Bread Financial, of approximately $131.7 million. The depositary shares will trade on the New York Stock Exchange under the symbol BFH PrB.

Partners Corey Wright and Jeff Ramsay led the Paul Hastings team, which included partner Daniel Nicholas, of counsel Amir Heyat and Lawrence Kaplan, and associates Celia Scherman, Kenneth Bagdasar and Declan Considine.

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