Beazer Homes Announces Proposed Offering of $350 Million of Senior Notes
September 10 2019 - 7:17AM
Business Wire
Beazer Homes USA, Inc. (NYSE: BZH) (the “Company”) announced
today that it is proposing to issue $350 million aggregate
principal amount of Senior Unsecured Notes due 2029 (the “Notes”)
in a private offering that is exempt from the registration
requirements of the Securities Act of 1933, as amended (the
“Securities Act”).
The Company intends to offer the Notes to qualified
institutional buyers in accordance with Rule 144A or outside the
United States to non- U.S. persons in accordance with Regulation S
under the Securities Act. The Company intends to use the net
proceeds from the offering, together with borrowings under a new
senior unsecured term loan facility and cash on hand, as needed, to
finance the repurchase of the Company’s 8.75% Senior Notes due 2022
(the “2022 Notes”), of which $500 million in aggregate principal
amount is currently outstanding.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the Notes, nor does it
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale is unlawful. The offer and
sale of the Notes will not be registered under the Securities Act
or applicable state securities laws, and the Notes are being
offered only to qualified institutional buyers in reliance on Rule
144A under the Securities Act and outside the United States to
non-U.S. persons in accordance with Regulation S under the
Securities Act. Unless so registered, the Notes cannot be offered
or sold in the United States except pursuant to an exemption from,
or in a transaction not subject to, the registration requirements
of the Securities Act and applicable state securities laws.
Forward-Looking Statements
Statements contained in this release that state the Company’s or
management’s intentions, expectations or predictions of the future
are forward-looking statements. Specifically, the Company cannot
assure you that the proposed offering or the repurchase of the 2022
Notes described above will be consummated on the terms currently
contemplated, if at all. The forward-looking statements involve
risks and uncertainties and actual results may differ materially
from those projected or implied. The Company disclaims any
intention or obligation to revise any forward-looking statements
whether as a result of new information, future events or
otherwise.
About Beazer Homes USA, Inc.
Headquartered in Atlanta, Beazer Homes (NYSE: BZH) is one of the
country’s largest homebuilders. Every Beazer home is designed and
built to provide Surprising Performance, giving you more quality
and more comfort from the moment you move in - saving you money
every month. With Beazer’s Choice Plans™, you can personalize your
primary living areas - giving you a choice of how you want to live
in the home, at no additional cost. And unlike most national
homebuilders, we empower our customers to shop and compare loan
options. Our Mortgage Choice program gives you the resources to
easily compare multiple loan offers and choose the best lender and
loan offer for you, saving you thousands over the life of your
loan. We build our homes in Arizona, California, Delaware, Florida,
Georgia, Indiana, Maryland, Nevada, North Carolina, South Carolina,
Tennessee, Texas, and Virginia. For more information, visit
beazer.com, or check out beazer.com on Facebook, Instagram and
Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20190910005555/en/
Beazer Homes USA, Inc. David I. Goldberg, 770-829-3700 Vice
President of Treasury and Investor Relations
investor.relations@beazer.com
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