PROSPECT HEIGHTS, Ill. - The subprime lending giant Household Finance Corp. on Wednesday launched a $1 billion bond sale to individual investors.
The medium-term Internotes, which are unsecured debt obligations of Household Finance, require a minimum investment of $1,000. Banc of America Securities LLC and Incapital LLC will act as joint lead managers and agents of the program.
"We are always looking for new funding channels," said Bruce Foster, vice president for capital markets at Household. "Over time, we intend to grow our retail presence into a core funding source. Internotes is an optimal platform to achieve that goal."