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OFFON

PROG HOLDINGS, INC.

(PRG)
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PROG Holdings, Inc. Announces Pricing of Senior Unsecured Notes Offering

11/10/2021 | 05:17pm EST

PROG Holdings, Inc. announced the pricing of its previously announced offering of $600 million in aggregate principal amount of its 6.00% senior unsecured notes due 2029 in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to non-U.S. persons in accordance with Regulation S under the Securities Act. The notes will bear interest at a rate of 6.00% per annum, payable semi-annually on May 15 and November 15 of each year, commencing on May 15, 2022, and will be guaranteed by certain of PROG Holdings? existing and future domestic subsidiaries. The offering of the notes is expected to close on November 26, 2021 (the ?closing date?), subject to customary closing conditions. The net proceeds from the offering of the notes will be used to repurchase shares of PROG Holdings? common stock pursuant to the tender offer commenced on November 4, 2021, future additional share repurchases or, to the extent PROG Holdings determines not to repurchase additional shares, for general corporate purposes. The offering of the notes is not conditioned on the consummation of the tender offer. The tender offer is conditioned upon, among other things, the consummation of a debt financing prior to its expiration date on terms reasonably satisfactory to PROG Holdings and resulting in gross proceeds to PROG Holdings of at least $400 million (the ?Financing Condition?). The consummation of the above-referenced notes offering on the closing date will satisfy the Financing Condition.


ę S&P Capital IQ 2021
All news about PROG HOLDINGS, INC.
2021Raymond James Adjusts Price Target on PROG Holdings to $55 From $60, Maintains Outperfo..
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2021PROG : Announces Final Results of Tender Offer - Form 8-K
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2021PROG Holdings, Inc. Announces Final Results of Tender Offer
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2021PROG : Comments on Tender Offer Results; Reaffirms Capital Allocation Framework - Form 8-K
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2021PROG : Announces Closing of Senior Unsecured Notes Offering and Satisfaction of Tender Off..
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2021PROG Holdings, Inc. Announces Closing of Senior Unsecured Notes Offering and Satisfacti..
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2021PROG Holdings, Inc. Announces Closing of Senior Unsecured Notes Offering and Satisfacti..
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2021PROG Holdings, Inc. Announces Pricing of Senior Unsecured Notes Offering - Form 8-K
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Analyst Recommendations on PROG HOLDINGS, INC.
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Financials (USD)
Sales 2021 2 692 M - -
Net income 2021 248 M - -
Net Debt 2021 378 M - -
P/E ratio 2021 10,2x
Yield 2021 -
Capitalization 2 479 M 2 479 M -
EV / Sales 2021 1,06x
EV / Sales 2022 0,90x
Nbr of Employees 1 868
Free-Float -
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Mean consensus BUY
Number of Analysts 8
Last Close Price 37,91 $
Average target price 66,29 $
Spread / Average Target 74,9%
EPS Revisions
Managers and Directors
Steven A. Michaels President, Chief Executive Officer & Director
Brian Garner Chief Financial Officer
Ray M. Robinson Chairman
Ben Hawksworth Chief Product & Technology Officer
Matt Ball Vice President-Research & Development
Sector and Competitors