# Bread Financial Launches Series C Preferred Depositary Share Offering

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/41999
Published: 2026-10-27T20:25:59.000Z
Updated: 2026-10-27T20:25:59.000Z
Section: Business

> Each depositary share represents a 1/40th interest in a preferred share and has a $25 liquidation preference. The offering size, price and initial dividend rate have not been disclosed.

Bread Financial Holdings Inc. launched an underwritten offering Tuesday of depositary shares tied to its Series C preferred stock, with proceeds intended for general corporate use but key pricing and dividend terms still unset.

Each depositary share represents a 1/40th interest in one share of the company’s Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series C. The depositary share has a $25 liquidation preference; the underlying preferred share has a $1,000 liquidation preference.

Bread Financial plans to use the net proceeds for general corporate purposes. Possible uses include contributing or lending funds to Comenity Capital Bank or repurchasing shares.

The company expects to apply to list the depositary shares on the New York Stock Exchange. The preliminary prospectus proposes BFH PrC as the ticker, subject to approval.

Dividends would be non-cumulative and payable quarterly beginning March 15, 2027, if declared. Market and other conditions could prevent the offering from closing.