Bread Financial Announces Pricing of an Offering of Depositary Shares Representing Interests in Its Series C Preferred Stock

manilatimes.net · 2026-10-28

COLUMBUS, Ohio, Oct. 27, 2026 (GLOBE NEWSWIRE) -- Bread Financial Holdings, Inc. (NYSE: BFH) ('Bread Financial” or the 'Company”) announced today the pricing of its previously announced underwritten public offering of 5,000,000 depositary shares (the 'Depositary Shares”), each representing a 1/40th interest in a share of its 9.375% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series C, par value $0.01 per share (the 'Series C Preferred Stock”), with a liquidation preference of $25 per Depositary Share (equivalent to $1,000 per share of Series C Preferred Stock). In addition, pursuant to the underwriting agreement, dated October 27, 2026, between the Company and Morgan Stanley & Co., LLC, Keefe, Bruyette & Woods, Inc., RBC Capital Markets, LLC, UBS Securities LLC and Wells Fargo Securities, LLC, as representatives of the underwriters named therein (the 'Underwriters”), the Company granted the Underwriters an option to purchase up to an additional 750,000 Depositary Shares at the same price for a period of 30 days following October 27, 2026.

TickrTrends take: Bread Financial's announcement of a preferred stock offering is a capital management activity that typically occurs when companies seek to strengthen their balance sheet or fund strategic initiatives. For Wells Fargo investors, this development in the broader financial services ecosystem underscores the competitive capital-raising environment across the sector. With WFC currently assessed as fairly valued by TickrTrends, investors monitoring the company should observe whether similar capital market activities or strategic positioning by peers influence valuation dynamics in coming quarters.

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