Bread Financial Holdings Amends Credit Agreement for Bank Merger

What Happened Bread Financial Holdings, Inc. announced that it received required regulatory approvals for the planned merger of Comenity Bank into Comenity Capital Bank (the “Bank Merger”) on July 31, 2026 and expects to consummate the merger on or around October 1, 2026. To accommodate that transaction, on September 3, 2026 the company and certain subsidiaries entered into Amendment No. 2 to the Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent. The Credit Agreement governs Bread’s $700 million senior unsecured revolving credit facility; the Amendment principally permits the Bank Merger as an exception to certain covenants while leaving other terms unchanged.

Key Details

• Regulatory approval received: July 31, 2026; expected closing of Bank Merger: on or around October 1, 2026.
• Amendment date: September 3, 2026; administrative agent: JPMorgan Chase Bank, N.A.
• Facility: $700 million senior unsecured revolving credit facility remains in place; Amendment allows the Bank Merger as an exception to covenant restrictions.
• Company statement: Bank Merger is not expected to have a significant impact on consolidated financial position, results of operations, or liquidity.

Why It Matters This filing informs investors that Bread has cleared a regulatory hurdle and taken a credit-market step to ensure its revolving credit facility accommodates the bank consolidation. The $700M facility remains available under the same terms except for the limited covenant change to allow the merger, and the company does not expect the merger to materially affect its financial condition or liquidity. Investors should note the timeline (anticipated closing ~Oct 1, 2026) and that the formal Amendment is included in the 8-K filing.