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Prospect News home > News index > List of issuers B > Headlines for Beazer Homes USA, Inc. > News item |
Beazer gets early tenders of $233.78 million 6 5/8% notes due 2018
By Wendy Van Sickle
Columbus, Ohio, Sept. 20 – Beazer Homes USA, Inc. said $233,784,000, or 77.93%, of its 300 million of 6 5/8% senior secured notes due 2018 were validly tendered by the early deadline of its ongoing cash tender offer.
The company will pay a total purchase price of $1,018 per $1,000 principal amount for the notes that were tendered by 5 p.m. ET on Tuesday.
The total amount includes an early tender payment of $30 per $1,000 principal amount.
Holders who tender their notes after the early deadline will receive $988 per $1,000 of notes.
The company also will pay accrued interest.
Early settlement is expected to occur on Wednesday.
The tender will run until 12:01 a.m. ET on Oct. 5.
The deadline to withdraw tendered notes has passed.
The offer is conditioned on the company obtaining at least $300 million of proceeds from one or more offerings of senior notes.
The company said it plans to redeem any notes left outstanding after the tender offer as soon as practical.
Credit Suisse Securities (USA) LLC (800 820-1653 or 212 325-2476) is the dealer manager. D.F. King & Co., Inc. (212 269-5550 or 800 967-5068) is the tender and information agent.
Beazer is a single-family homebuilder based in Atlanta.
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