Synchrony Financial offers two series of fixed-to-floating senior notes; terms not yet disclosed

Filed July 28, 2026 · ~2 min read

Key Changes

• high

  Synchrony Financial is offering two series of senior notes that will pay a fixed rate initially, then switch to a floating rate based on Compounded SOFR plus a spread. The specific offering amounts, interest rates, maturity dates, and reset dates are not disclosed in this preliminary 424B5.

  The Offering verify on EDGAR →
• medium

  Net proceeds will be used for general corporate purposes, which may include contributing or lending to Synchrony Bank. The estimated net proceeds amount is not disclosed.

  Use of Proceeds verify on EDGAR →
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  The notes are unsecured holding-company debt structurally subordinated to $97.5 billion of subsidiary and securitization-entity liabilities (including $92.3 billion of indebtedness and deposit liabilities at the Bank). In a subsidiary bankruptcy, those creditors are paid first from subsidiary assets before noteholders have any claim.

  Risk Factors verify on EDGAR →