Key Developments: Meritage Homes Corp (MTH)
46.49USD
19 Jun 2013
$-2.07 (-4.26%)
$48.56
$48.48
$48.57
$46.47
375,227
572,587
$52.95
$28.44
Latest Key Developments (Source: Significant Developments)
Meritage Homes Corp Reaffirms FY 2013 EPS Guidance-Conference Call
Meritage Homes Corp announced that for fiscal 2013, it expects earnings per diluted share in the range of $2.20-$2.45. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $2.34 for fiscal 2013. Full Article
Meritage Homes Corp Issues FY 2013 EPS Guidance Above Analysts' Estimates
Meritage Homes Corp announced that for fiscal 2013, it expects earnings per diluted share in the range of $2.20-$2.45. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.95 for fiscal 2013. Full Article
Meritage Homes Corp Announces Closing of $175 Million 4.50% Senior Notes Due 2018
Meritage Homes Corp announced the closing and settlement of a private placement of $175 million aggregate principal amount of its 4.50% Senior Notes due 2018. The notes were offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and outside the United States to persons other than U.S. persons in reliance upon Regulation S under the Securities Act. As announced on February 27, 2013, Meritage intends to use the net proceeds from the offering to repurchase or redeem all $99,825,000 aggregate principal amount of its 7.731% Senior Subordinated Notes due 2017 with the remaining proceeds to be used for general corporate purposes. Full Article
Meritage Homes Corp Announces Pricing Of $175 Million Senior Unsecured Notes
Meritage Homes Corp announced that the pricing of a $175 million aggregate principal amount of senior unsecured notes due 2018. The bonds were priced with a coupon of 4.50% and sold at par. The notes were offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act) and outside the United States to persons other than U.S. persons in reliance upon Regulation S under the Securities Act. The expected closing date for the private placement of these notes is March 13, 2013.Meritage intends to use a portion of the net proceeds from the offering to repurchase or redeem all $99,825,000 aggregate principal amount of its 7.731% senior subordinated notes due 2017 with the remaining net proceeds to be used for general corporate purposes. Full Article
Meritage Homes Corp Launches Private Placement Of $150 Million Senior Unsecured Notes
Meritage Homes Corp announced intention to offer, $150 million aggregate principal amount of senior unsecured notes to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act) and outside the United States to persons other than U.S. persons in reliance upon Regulation S under the Securities Act. Final terms of the notes, including the maturity date, interest rate and other terms, will be determined through negotiations between Meritage and the initial purchaser of the notes. Meritage intends to use a portion of the net proceeds from the offering to repurchase or redeem all outstanding $99.8 million aggregate principal amount of 7.731% senior subordinated notes due 2017 with the remaining proceeds to be used for general corporate purposes. Full Article
Meritage Homes Corp Completes Offering Of 1.875% Convertible Senior Notes
Meritage Homes Corp 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. The Company intends to use the net proceeds of approximately $123 million from this offering for general corporate purposes. Full Article
Meritage Homes Corp Announces Pricing of 1.875% Convertible Senior Notes Due 2032
Meritage Homes Corp announced that it has priced an underwritten public offering of $110 million aggregate principal amount of 1.875% Convertible Senior Notes due 2032, which was upsized from the previously announced $100 million offering. The Company granted the underwriters a 30-day option to purchase up to an additional $16.5 million aggregate principal amount of notes from the Company. The offering is expected to close on September 18, 2012, subject to customary closing conditions. 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 be guaranteed unconditionally, jointly and severally, initially 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. The Company intends to use the net proceeds from this offering for general corporate purposes. Citigroup, JP Morgan, Deutsche Bank and BofA Merrill Lynch acted as joint book-running managers for the offering. JMP Securities acted as co-manager. Full Article
Meritage Homes Corp Announces Offering Of Convertible Senior Notes
Meritage Homes Corp announced that it has commenced an underwritten registered public offering of $100 million aggregate principal amount of its Convertible Senior Notes due 2032, subject to market and other conditions. The notes will be convertible into shares of the Company's common stock at any time prior to maturity and will be guaranteed fully, unconditionally, and jointly and severally initially by all of the Company's direct and indirect 100% owned subsidiaries. The interest rate, conversion rate, and certain other terms of the offering will be determined at the time of pricing. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering will be completed, or as to the actual size or terms of the offering. The Company plans to use the proceeds received from the offering for general corporate purposes. Full Article
Meritage Homes Corp. Comments On FY 2012 Guidance
Meritage Homes Corp. announced that with large backlog entering into the second half of 2012, it expects to show continued revenue and earnings growth in fiscal 2012, and to be profitable for fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $1.149 billion, net profit of $24.79 million for fiscal 2012. Full Article
Meritage Homes Corp. Announces Pricing Of Common Stock Offering
Meritage Homes Corp. announced that it has priced a registered public offering of 2,300,000 shares of its common stock at $34.75 per share, for net proceeds of approximately $75.7 million after underwriting discounts and estimated offering expenses. The offering was upsized from the original 2,000,000 shares. As part of the offering, the Company granted the underwriters a 30-day option to purchase up to 345,000 additional shares, which, if exercised in full, would result in combined net proceeds of approximately $87.1 million. The offering is expected to close on July 13, 2012, subject to customary closing conditions. The Company plans to use the proceeds received from the offering for working capital and other general corporate purposes. Citigroup, JP Morgan and Deutsche Bank Securities acted as joint book-running managers for the offering. BofA Merrill Lynch acted as co-manager for the offering. Full Article
TEXT-Fitch rates Meritage's proposed $150MM sr. unsecured notes offering 'BB-/RR3'
Feb 27 - Fitch Ratings has assigned a 'BB-/RR3' rating to Meritage Homes Corporation's (NYSE: MTH) proposed offering of $150 million principal amount of senior unsecured notes due 2018. This issue will be rated on a pari passu basis with all other senior unsecured debt. Net proceeds from the notes offering will be used to repurchase or redeem all of the company's existing 7.731% senior subordinated notes due 2017, pay related premiums, fees and expenses and for general corporate purposes.
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