Market Overview

Beazer Homes Announces Pricing of Offering of $200M Senior Notes

Beazer Homes USA (NYSE: BZH) (the “Company”) today priced its previously-announced offering of $200 million aggregate principal amount of 7.500% Senior Notes due 2021 (the “Notes”). The Notes are being offered in a private offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”).

The Company is offering the Notes to qualified institutional buyers in accordance with Rule 144A or outside the United States in accordance with Regulation S under the Securities Act. The Company intends to use the net proceeds from the offering for general corporate purposes, including potential land acquisitions. In addition, on or before the closing of the offering, the Company plans to release restricted cash to repay $200.0 million of the outstanding balance under the Company's cash secured term loan facilities.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes, nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The offer and sale of the Notes will not be registered under the Securities Act or applicable state securities laws, and the Notes are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States in accordance with Regulation S under the Securities Act. Unless so registered, the Notes cannot be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

Posted-In: News Financing

 

Most Popular

Related Articles (BZH)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free