GRBK - Green Brick locks rate on $100M senior unsecured notes

Green Brick Partners (GRBK -1.6%) has locked interest rate on $100M of senior unsecured notes due in 2029 at a fixed rate of 3.25%/annum in an oversubscribed club deal structured by Prudential Private Capital as a private placement transaction. The closing for the notes is expected to be the last week of Dec. 2021. Expects to use the proceeds to repay borrowings under its existing revolving credit facilities, pay fees and expenses incurred in connection with the transaction, and for general corporate purposes. The Co. also completed an extension, expansion, and amendment of its line of credit facility arrangement on Dec. 10, 2021, that adds $130M in new commitments, bringing our total commitments to $300M.

For further details see:

Green Brick locks rate on $100M senior unsecured notes