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William Lyon Homes Announces Upsizing And Pricing of Additional Senior Notes Due 2020

Monday, 21 Oct 2013 04:10pm EDT 

William Lyon Homes (the Company) announced that it has upsized and priced a private offering of $100 million in aggregate principal amount of additional 8.5% senior notes due 2020 (the "Notes") through its wholly owned subsidiary, William Lyon Homes, Inc. (the "Issuer"). The size of the offering was increased to $100 million from the previously announced $75 million. The Notes will be issued at a public offering price of 106.5% of their face amount (plus accrued interest), which is a yield of 6.952%. The Notes are being offered as additional notes under the indenture, dated as of November 8, 2012, among the Issuer, the guarantors party thereto and U.S. Bank National Association, as trustee, pursuant to which the Issuer issued $325 million in aggregate principal amount of its 8.5% Senior Notes due 2020 on November 8, 2012 (the "Existing Notes"). The Notes will be treated as a single series with, and will have the same terms as, the Existing Notes. The Company expects to close the Notes offering on October 24, 2013, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds for general corporate purposes, including the acquisition and development of land and home construction. 

Company Quote

-0.12 -0.65%
28 Jan 2015