DALLAS - Landsea Homes Corporation (NASDAQ:LSEA), a residential homebuilder, announced today the pricing of its offering of $300 million senior notes at 8.875% due in 2029. The notes, to be settled around April 1, 2024, will be guaranteed by the company's material wholly owned subsidiaries.
The offering, limited to qualified institutional buyers and non-U.S. persons, aims to pay down borrowings under Landsea's revolving credit facility. These senior notes will rank equally with other unsecured and unsubordinated debt of the company and its guarantors.
Landsea Homes, based in Dallas, Texas, operates in several U.S. markets, including New York, Boston, New Jersey, Arizona, Colorado, Florida, Texas, and California. The company focuses on building sustainable master-planned communities and homes.
The senior notes have not been registered under the Securities Act of 1933 and cannot be offered or sold in the U.S. without registration or an applicable exemption. This press release does not constitute an offer to sell or a solicitation of an offer to buy the notes.
This information is based on a press release statement and includes forward-looking statements subject to risks, uncertainties, and assumptions. Actual results may differ materially from those projected.
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