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Century Communities shops $300 million eight-year senior notes; pricing expected Tuesday
By Paul Deckelman
New York, May 8 – Century Communities Inc. plans to sell $300 million of eight-year senior notes early this week, high-yield syndicate sources said Monday.
The Rule 144A and Regulation S offering is expected to price on Tuesday.
The deal is being managed by J.P. Morgan Securities LLC.
The company – a Greenwood Village, Colo.-based builder of single-family homes, townhomes and flats in select U.S. markets, plans to use a portion of the net proceeds from the offering to repay all outstanding debt under its revolving credit facility, and to use the remainder of the proceeds for general corporate purposes, which may include, among other things, working capital and acquisitions, including the company’s previously announced merger transaction with UCP, Inc.
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