Synchrony Financial
Synchrony Financial Issues New Series B Preferred Stock and Enters Underwriting Agreement
Summary
On February 23, 2024, Synchrony Financial issued 20,000,000 depositary shares representing a 1/40th ownership interest in 8.250% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B. The issuance amends the Company's Amended and Restated Certificate of Incorporation. On February 15, 2024, Synchrony Financial entered into an underwriting agreement with several underwriters to sell the depositary shares in a public offering.
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Exhibits (4)
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About Synchrony Financial
Synchrony Financial is a consumer financial services company primarily focused on providing private-label credit cards. It serves as a key partner to a variety of retailers, manufacturers, and healthcare providers, enabling them to offer customized credit solutions to their customers. Synchrony Financial's products extend beyond credit cards to include promotional financing, installment lending, and loyalty programs, often aimed at enhancing customer retention and satisfaction for its partners. The company plays a significant role in industries such as retail, health and wellness, automotive, and home, where it provides targeted financial solutions that are integrated into the point of sale. This integration makes Synchrony a crucial player in consumer finance, as it supports both businesses and consumers through flexible payment options. Headquartered in Stamford, Connecticut, Synchrony Financial was established in 2003. It is a major issuer of private-label credit cards in the United States, contributing to the retail sector's growth by empowering consumers to make purchases and manage payments over time. The company's financial products are influential in promoting accessible credit, supporting economic activity, and fostering customer loyalty within numerous commercial sectors.
Official SEC Documents
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