Discover Financial amends senior notes to remove call option

By Marisa Wong

Morgantown, W.Va., May 8 – Discover Financial Services entered into on May 8 a first supplemental indenture to the senior indenture dated June 12, 2007 to amend some of its outstanding senior notes, according to an 8-K filing with the Securities and Exchange Commission.

The amendment eliminates the company’s right to redeem those notes prior to Nov. 9, 2018.

After that date the notes remain callable subject to payment of a make-whole premium.

The notes affected are Discover’s 10.25% senior notes due 2019, 5.2% senior notes due 2022 and 2.85% senior notes due 2022.

Discover is a Riverwoods, Ill.-based financial services company.

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