LSEA - Landsea Homes Announces Commencement of Private Offering of Senior Notes | Benzinga
DALLAS, March 18, 2024 (GLOBE NEWSWIRE) -- Landsea Homes Corporation (NASDAQ:LSEA) ("Landsea Homes" or the "Company") announced today that it intends to offer $300,000,000 aggregate principal amount of senior notes due 2029 (the "Notes"), subject to market conditions and other factors. The Notes will be guaranteed, jointly and severally, on a senior unsecured basis, by all of the Company's material wholly owned subsidiaries as of their issuance (the "Guarantors") and will rank pari passu with all other unsecured and unsubordinated indebtedness of the Company and Guarantors.
The Company intends to use the net proceeds from the sale of the Notes to pay down a portion of the outstanding borrowings under its revolving credit facility.
The Notes will be offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside the United States under Regulation S under the Securities Act. The Notes have not been registered under the Securities Act, and may not be offered or sold ...