Press release
Brighthouse Financial Announces Upsize of Previously Announced Cash Tender Offers
CHARLOTTE, N.C.--(BUSINESS WIRE)-- Brighthouse Financial, Inc. (the “Company” or “Brighthouse Financial”) (Nasdaq: BHF) announced today, in connection with
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, in connection with its previously announced cash tender offers (each, an “Offer”, and collectively, the “Offers”) for the Notes set forth below, that the Company has increased the aggregate principal amount of each series of Notes that the Company intends to purchase in the Offers from the previously announced amounts to (i) up to an aggregate principal amount of $175,000,000 (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 $325,000,000 (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”). Additionally, the Company has amended the previously announced condition that it receives prior to the Expiration Date gross proceeds of at least $200,000,000 from the Company’s contemporaneous offering of one or more series of depositary shares upon the terms and subject to the conditions contained in the prospectus related to such offering, to the Company’s receipt of gross proceeds of at least $500,000,000 from such offering (as so amended, the “Financing Condition”). The Offers are being made pursuant to and are subject to the terms and conditions, including the 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\nSecurity\n\n\n\nCUSIP\nNumber\n\n\n\nPrincipal\nAmount\nOutstanding\n\n\n\nTender\nCap(1)\n\n\n\nReference U.S.\nTreasury\nSecurity\n\n\n\nBloomberg\nReference\nPage(2)\n\n\n\nFixed\nSpread\n(basis\npoints)\n\n\n\nEarly Tender\nPremium(3)\n\n\n\nHypothetical Total\nConsideration(4)\n\n\n\n\n\n3.700%\nSenior\nNotes due\n2027\n\n\n\n10922NAC7/\n\n\n10922NAA1\n\n\n\n$1,500,000,00...