Synchrony Financial’s $1.25 Billion Senior Notes Offering


Davis Polk advised the representatives of the several underwriters in connection with Synchrony Financial’s SEC-registered offering of $1.25 billion aggregate principal amount of senior notes.

The offering consisted of $600 million aggregate principal amount of 4.375% senior notes due 2024 and $650 million aggregate principal amount of 5.150% senior notes due 2029.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Wells Fargo Securities, LLC, Academy Securities, Inc., Blaylock Van, LLC, CastleOak Securities, L.P., Mischler Financial Group, Inc., R. Seelaus & Co., LLC, Samuel A. Ramirez & Company, Inc. and The Williams Capital Group, L.P. acted as underwriters in the deal.

Based in Stamford, Connecticut, Synchrony Financial is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products.

The Davis Polk capital markets team included partner John B. Meade (Picture) and associates Yoojin L. Kim and Joanna Sedlak. Partner Margaret E. Tahyar and associate Jung Eun (Claire) Choi provided regulatory advice. Partner Po Sit and associate Ben Levenback provided tax advice.

Involved fees earner: Jung Eun Choi – Davis Polk & Wardwell; Yoojin Kim – Davis Polk & Wardwell; Ben Levenback – Davis Polk & Wardwell; John Meade – Davis Polk & Wardwell; Joanna Sedlak – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell; Margaret Tahyar – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Academy Securities Inc.; Blaylock Van, LLC; CastleOak Securities; Citigroup Global Markets Ltd; J.P. Morgan Securities LLC; Mischler Financial Group; R. Seelaus & Co.; Samuel A. Ramirez & Company, Inc.; The Williams Capital Group; Wells Fargo Securities;

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Author: Ambrogio Visconti