The covenants and events of default in the indenture governing the August 2021 Notes are substantially the same as those in the indenture under which the notes offered hereby will be issued. See “Description of the Notes.”
9.000% Notes due 2029
On June 22, 2023, OMFC issued $500 million aggregate principal amount of 9.000% Senior Notes due 2029, and on November 14, 2023, OMFC issued $400 million aggregate principal amount of the Additional 2029 Notes (collectively, the “9.000% Notes”), in each case under an indenture, dated as of December 3, 2014, among OMFC, OMH and Wilmington Trust, National Association, as supplemented by a fifteenth supplemental indenture, dated as of June 22, 2023 (the “fifteenth supplemental indenture”), among OMFC, OMH, as guarantor, and HSBC Bank USA, National Association as series trustee. As of September 30, 2024, the remaining principal amount due at maturity of the 9.000% Notes was $900 million.
The 9.000% Notes mature on January 15, 2029, and bear interest at a rate of 9.000% per annum, payable semiannually in arrears on January 15 and July 15 of each year. The 9.000% Notes are unsecured and rank equally in right of payment with all of OMFC’s other unsubordinated indebtedness.
The 9.000% Notes may be redeemed at any time and from time to time, at the option of OMFC, in whole or in part (1) prior to July 15, 2025, at a “make-whole” redemption price specified in the indenture governing the 9.000% Notes and (2) on or after July 15, 2025, at the applicable redemption prices set forth in the fifteenth supplemental indenture, in each case plus accrued and unpaid interest on the principal amount of the 9.000% Notes to, but not including, the redemption date. The 9.000% Notes do not have the benefit of any sinking fund.
The covenants and events of default in the indenture governing the 9.000% Notes are substantially the same as those in the indenture under which the notes offered hereby will be issued. See “Description of the Notes.”
7.875% Notes due 2030
On December 13, 2023, OMFC issued $700 million aggregate principal amount of 7.875% Senior Notes due 2030 (the “December 2023 Notes”) under an indenture, dated as of December 3, 2014, among OMFC, OMH and Wilmington Trust, National Association, as supplemented by a sixteenth supplemental indenture, dated as of December 13, 2023 (the “sixteenth supplemental indenture”), among OMFC, OMH, as guarantor, and HSBC Bank USA, National Association as series trustee. As of September 30, 2024, the remaining principal amount due at maturity of the December 2023 Notes was $700 million.
The December 2023 Notes mature on March 15, 2030, and bear interest at a rate of 7.875% per annum, payable semiannually in arrears on March 15 and September 15 of each year. The December 2023 Notes are unsecured and rank equally in right of payment with all of OMFC’s other unsubordinated indebtedness.
The December 2023 Notes may be redeemed at any time and from time to time, at the option of OMFC, in whole or in part (1) prior to December 15, 2026, at a “make-whole” redemption price specified in the indenture governing the December 2023 Notes and (2) on or after December 15, 2026, at the applicable redemption prices set forth in the sixteenth supplemental indenture, in each case plus accrued and unpaid interest on the principal amount of the December 2023 Notes to, but not including, the redemption date. The December 2023 Notes do not have the benefit of any sinking fund.
The covenants and events of default in the indenture governing the December 2023 Notes are substantially the same as those in the indenture under which the notes offered hereby will be issued. See “Description of the Notes.”
7.500% Senior Notes due 2031
On May 22, 2024, OMFC issued $750 million aggregate principal amount of 7.500% Senior Notes due 2031 (the “May 2024 Notes”) under an indenture, dated as of December 3, 2014, among OMFC, OMH and Wilmington Trust, National Association, as supplemented by a seventeenth supplemental indenture, dated as of May 22, 2024 (the “seventeenth supplemental indenture”), among OMFC, OMH, as guarantor, and HSBC Bank USA, National Association as series trustee. As of September 30, 2024, the remaining principal amount due at maturity of the May 2024 Notes was $750 million.