Beazer Homes announces plans to redeem 8 5/8% notes due 2011 in full

By Angela McDaniels

Tacoma, Wash., Jan. 5 - Beazer Homes USA, Inc. will redeem all of its 8 5/8% senior notes due 2011, according to a company news release.

The company is selling 18 million shares of common stock and $50 million of mandatory convertible subordinated notes due 2013 and will call the 8 5/8% notes for redemption prior to the closing of the offerings.

The Atlanta-based homebuilder said it will use the proceeds of the offerings to replenish funds used to redeem the 8 5/8% notes and for other general corporate purposes, including funding repurchases of outstanding senior notes that the company may make from time to time.

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