Synchrony Financial $1 billion 4.5% notes issue

Overview:

• Synchrony Financial has made a $1 billion debt offering.
• The 4.5% notes are due 2025.
• The joint bookrunners were Citigroup Global Markets, Merrill Pierce Fenner & Smith, Mitsubishi UFJ Securities and Morgan Stanley.
• The proceeds will be used to make principal payments on an existing loan term facility. 
• Synchrony was a subsidiary of GE up until its 2014 IPO. 

Kurt Stumpo - Journalist