Loading...
Loading...
Meritage Homes
Corporation
MTH, today announced that it
has completed its offering and sale of $126.5 million aggregate principal
amount of 1.875% Convertible Senior Notes due 2032. This amount includes the
exercise in full by the underwriters of their option to purchase an additional
$16.5 million aggregate principal amount of notes.
The notes will be the Company's general unsecured senior obligations. The
notes will pay interest on March 15 and September 15, beginning on March 15,
2013, at a rate of 1.875% per year, and will mature on September 15, 2032. The
notes will initially be guaranteed unconditionally, jointly and severally by
all of the Company's direct and indirect 100% owned subsidiaries. The notes
will initially be convertible into shares of common stock at a conversion rate
of 17.1985 shares of the Company's common stock per $1,000 principal amount of
notes, corresponding to an initial conversion price of approximately $58.14
per share of common stock.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in