Synchrony Financial completed a $500 million offering of perpetual depositary shares. The company issued 500,000 depositary shares to strengthen its capital structure. Each depositary share represents a 1/100th interest in a share of preferred stock. The underlying Series C preferred stock carries a 7.250% fixed rate reset. This capital reinforcement supports an ongoing share buyback program and increased common dividends.
Synchrony also integrated its CareCredit product into the LiveLoveSpa.com e-commerce platform. This agreement marks CareCredit’s first partnership within the cosmetic e-commerce sector. The move expands Synchrony’s digital financing presence across the health and wellness market.