Brighthouse Financial Announces Cash Tender Offer for 3.700% and 4.700% Senior Notes

About this update from Brighthouse Financial, Inc.

[{"type":"text","content":" CHARLOTTE, N.C.--(BUSINESS WIRE)--\nBrighthouse Financial, Inc. (the “Company”) (Nasdaq: BHF) announced today the commencement of a cash tender offer (the “Offer”) for an aggregate purchase price of up to $500 million (the “Tender Cap”) of its 3.700% Senior Notes due 2027 (the “2027 Notes”) and its 4.700% Senior Notes due 2047 (the “2047 Notes” and, together with the 2027 Notes, the “Notes,” and each a “series” of Notes) from registered holders of the Notes (individually, a “Holder” or “you,” and collectively, the “Holders”) in accordance with, and in the order of, the corresponding Acceptance Priority Levels. The Offer is being made pursuant to and is subject to the terms and conditions, including a financing condition, set forth in the Offer to Purchase, dated November 9, 2021 (the “Offer to Purchase”) and the related Letter of Transmittal, dated November 9, 2021 (the “Letter of Transmittal” and, together with the Offer to Purchase, the “Tender Offer Documents”). Capitalized terms used but not defined in this press release have the meanings given to them in the Offer to Purchase.\n\n\n\nTitle of\nSecurity\n\n\n\nCUSIP\nNumber\n\n\n\nPrincipal\nAmount\nOutstanding\n\n\n\nAcceptance\nPriority\nLevel\n\n\n\nReference\nU.S. Treasury\nSecurity\n\n\n\nBloomberg\nReference Page(1)\n\n\n\nFixed Spread\n(basis points)\n\n\n\nEarly Tender\nPremium(2)\n\n\n\nHypothetical\nTotal\nConsideration(3)\n\n\n\n\n\n3.700%\nSenior Notes\ndue 2027\n\n\n\n10922NAC7/\n10922NAA1/\nU6225NAA0\n\n\n\n$1,300,284,000\n\n\n\n1\n\n\n\n1.125% UST\ndue October 31, 2026\n\n\n\nPX1\n\n\n\n50\n\n\n\n$50\n\n\n\n$1,107.55\n\n\n\n\n\n4.700%\nSenior Notes\ndue 2047\n\n\n\n10922NAF0/\n10922NAD5/\nU6225NAB8\n\n\n\n$1,150,000,000\n\n\n\n2\n\n\n\n2.375% UST\ndue May 15, 2051\n\n\n\nPX1\n\n\n\n175\n\n\n\n$50\n\n\n\n$1,171.49\n\n\n\n\n\n\n(1)\n\n\n\nThe applicable page on Bloomberg from which the Dealer Managers will quote the bid side prices of the applicable U.S. Treasury Security. In the above table, “UST” denotes a U.S. Treasury Security.\n\n\n\n\n\n(2)\n\n\n\nPer $1,000 principal amount of Notes validly tendered and not validly withdrawn and accepted for purchase in the Offer at or prior to the Early Tender Deadline. The Fixed Spread includes the Early Tender Premium.\n\n\n\n\n\n(3)\n\n\n\nThe Total Consideration for each series of Notes, which will be determined as ...

More updates from Brighthouse Financial, Inc.