| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2020 > News item |
Weekley Homes offers to purchase outstanding 6% notes, 6 5/8% notes
By Taylor Fox
New York, Sept. 9 – Weekley Homes, LLC commenced cash tender offers to purchase any and all of its $200 million outstanding 6% senior notes due 2023 (Cusip: 948565AC0) and any and all of its $231,189,000 outstanding 6 5/8% senior notes due 2025 (Cusip: 94856UAA9), according to a news release.
Weekley also commenced consent solicitations from holders of both series of notes to effect proposed amendments to the indentures governing the notes.
The amendments would eliminate all of the restrictive covenants and related provisions contained in the relevant indenture and shorten the notice period requirement for optional redemptions.
The tender consideration for each $1,000 tendered prior to the early tender date of 5 p.m. ET on Sept. 22 and accepted for purchase is $1,001.85 for the 6% notes and $1,051.75 for the 6 5/8% notes, plus interest.
The amount includes a $30.00 early tender payment per $1,000 principal amount for each series of notes tendered prior to the early tender deadline. Notes tendered after the early deadline would not receive the early tender payment.
Notes tendered and consents delivered may be withdrawn or revoked at any time prior to 5 p.m. ET on Sept. 22.
The early settlement date is expected to occur on Sept. 23.
Each offer and consent solicitation will expire at 11:59 p.m. ET on Oct. 6, unless extended or terminated.
The settlement date for all notes is expected to be Oct. 7.
Credit Suisse Securities (USA) LLC (800 820-1653, 212 325-6340) is the dealer manager.
D.F. King & Co., Inc. (800 252-8173, 212 269-5550; weekleyhomes@dfking.com) is tender agent and information agent.
Weekley Homes is a Houston-based homebuilder.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.