Press release
Brighthouse Financial Announces Cash Tender Offers for 3.700% and 4.700% Senior Notes
CHARLOTTE, N.C.--(BUSINESS WIRE)-- Brighthouse Financial, Inc. (the “Company” or “Brighthouse Financial”) (Nasdaq: BHF) announced today the commencement of
About this update from Brighthouse Financial, Inc.
[{"type":"text","content":" CHARLOTTE, N.C.--(BUSINESS WIRE)--\nBrighthouse Financial, Inc. (the “Company” or “Brighthouse Financial”) (Nasdaq: BHF) announced today the commencement of cash tender offers (each, an “Offer”, and collectively, the “Offers”) for (i) up to an aggregate principal amount of $100,000,000 (the “2027 Notes Tender Cap”) of its 3.700% Senior Notes due 2027 (the “2027 Notes”) and (ii) up to an aggregate principal amount of $100,000,000 (the “2047 Notes Tender Cap” and, together with the 2027 Notes Tender Cap, the “Tender Caps”) of 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 each registered holder of the Notes (individually, a “Holder” or “you,” and collectively, the “Holders”). The Offers are being made pursuant to and are subject to the terms and conditions, including a financing condition, set forth in the Offer to Purchase for Cash, dated November 10, 2020 (the “Offer to Purchase”) and the related Letter of Transmittal, dated November 10, 2020 (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 \n\n\nSecurity\n\n\n\nCUSIP \n\n\nNumber\n\n\n\nPrincipal \n\n\nAmount \n\n\nOutstanding\n\n\n\nTender \n\n\nCap(1)\n\n\n\nReference \n\n\nU.S. \n\n\nTreasury \n\n\nSecurity\n\n\n\nBloomberg \n\n\nReference \n\n\nPage(2)\n\n\n\nFixed \n\n\nSpread \n\n\n(basis \n\n\npoints)\n\n\n\nEarly \n\n\nTender \n\n\nPremium(3)\n\n\n\nHypothetical \n\n\nTotal \n\n\nConsideration(4)\n\n\n\n\n\n3.700%\n\n\nSenior\n\n\nNotes\n\n\ndue 2027\n\n\n\n10922NAC7/\n\n\n10922NAA1\n\n\n\n$1,500,000,000\n\n\n\n$100,000,000\n\n\n\n0.625%\n\n\nUST due\n\n\n8/15/2030\n\n\n\nPX1\n\n\n\n130\n\n\n\n$50.00\n\n\n\n$1,085.78\n\n\n\n\n\n4.700%\n\n\nSenior\n\n\nNotes\n\n\ndue 2047\n\n\n\n10922NAF0/\n10922NAD5/\nU6225NAB8\n\n\n\n$1,500,000,000\n\n\n\n$100,000,000\n\n\n\n1.25%\n\n\nUST due\n\n\n5/15/2050\n\n\n\nPX1\n\n\n\n275\n\n\n\n$50.00\n\n\n\n$1,033.29\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n(1) The Tender Cap for each series will be based on the aggregate principal amount with respect to such series.\n\n\n\n\n\n(2) The applicable page on Bloomberg from which the Lead Dealer Managers will quote the bid side price...