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Adams Homes to repay revolver borrowings with notes proceeds
By Sara Rosenberg
New York, Sept. 21 – Adams Homes Inc. plans to repay all outstanding borrowings under its revolving credit facility using proceeds from a $250 million senior notes offering, according to a market source.
As of June 30, the company had $49.3 million drawn under the revolver.
Remaining proceeds from the notes will be used to tender for up to $100 million of the company’s 7˝% senior notes due 2025, to pay transaction related fees and expenses, and for general corporate purposes.
Adams Homes is a private homebuilder.
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