Brighthouse Financial Announces Upsize of Previously Announced Cash Tender Offer

About this update from Brighthouse Financial, Inc.

[{"type":"text","content":" CHARLOTTE, N.C.--(BUSINESS WIRE)--\nBrighthouse Financial, Inc. (the “Company”) (Nasdaq: BHF) announced today, in connection with its previously announced cash tender offer (the “Offer”), that the Company has increased the aggregate purchase price of Notes that the Company intends to purchase in the Offer from the previously announced amount to an aggregate purchase price of up to $750 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. Additionally, the Company has amended the previously announced condition that it receives prior to the Expiration Date gross proceeds of at least $500 million from one or more debt or preferred stock financings to the Company’s receipt of gross proceeds of at least $750 million from such financings (as so amended, the “Financing Condition”). The Offer is being made pursuant to and is subject to the terms and conditions, including the 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\n\n\nSecurity\n\n\n\nCUSIP\n\n\nNumber\n\n\n\nPrincipal\n\n\nAmount\n\n\nOutstanding\n\n\n\nAcceptance\n\n\nPriority\n\n\nLevel\n\n\n\nReference U.S.\n\n\nTreasury\n\n\nSecurity\n\n\n\nBloomberg\n\n\nReference\n\n\nPage(1)\n\n\n\nFixed Spread\n\n\n(basis points)\n\n\n\nEarly\n\n\nTender\n\n\nPremium(2)\n\n\n\nHypothetical\n\n\nTotal\n\n\nConsideration(3)\n\n\n\n\n\n3.700%\n\n\nSenior Notes\n\n\ndue 2027\n\n\n\n10922NAC7/\n\n\n10922NAA1/\n\n\nU6225NAA0\n\n\n\n$1,300,284,000\n\n\n\n1\n\n\n\n1.125% UST\n\n\ndue\n\n\nOctober 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%\n\n\nSenior Notes\n\n\ndue 2047\n\n\n\n10922NAF0/\n\n\n10922NAD5/\n\n\nU6225NAB8\n\n\n\n$1,150,000,000\n\n\n\n2\n\n\n\n2.375% ...

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