OneMain Holdings, Inc. Closes Previously Announced Branch Sale to Lendmark
Company Release - 5/2/2016 6:47 PM EDT
EVANSVILLE, Ind.--(BUSINESS WIRE)-- OneMain Holdings, Inc. (NYSE: OMF) announced today that it has completed the previously announced sale of 127 Springleaf Financial branches and certain related assets to Lendmark Financial Services, LLC. The sale was completed as required under the agreement with the United States Department of Justice and several states. The Company received $624 million in cash proceeds in connection with the sale, which included the sale of $600 million in unpaid principal balance of loans sold as of March 31, 2016.
About OneMain Holdings, Inc.
OneMain Holdings, Inc. is a leading consumer finance company providing loan products to customers through its nationwide branch network and the internet. The company has a 100-year track record of high quality origination, underwriting and servicing of personal loans, primarily to non-prime consumers.
Source: OneMain Holdings, Inc.