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UCP to retire 8˝% senior notes due 2017 via $200 million new issue
By Susanna Moon
Chicago, Oct. 14 – UCP, Inc. plans to repurchase or repay its 8˝% senior notes due 2017 using proceeds of a new issue.
UCP, LLC, the company’s primary operating subsidiary, and UCP Finance Corp., a wholly owned finance subsidiary, plan to price a private offering of $200 million principal amount of senior notes due 2021, according to a company announcement.
Proceeds of the offering will be used to repurchase or repay substantially all of the outstanding debt of UCP, Inc. and its subsidiaries, including the 8˝% notes, and for general corporate purposes, including the acquisition and development of land and home construction.
UCP is a San Jose, Calif.-based developer and homebuilder.
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