William Lyon Homes Announces Pricing of Offering of 6.625% Senior Notes Due 2027
24 Junio 2019 - 4:16PM
Business Wire
William Lyon Homes (NYSE: WLH) (the “Company”) today announced
that it has priced a private offering of $300.0 million in
aggregate principal amount of 6.625% senior notes due 2027 (the
“2027 notes”) through its wholly owned subsidiary, William Lyon
Homes, Inc. (“California Lyon”). The Company expects to close this
offering on July 9, 2019, subject to the satisfaction of customary
closing conditions.
The Company intends to use the net proceeds from this offering,
as well as cash on hand, to redeem $300.0 million in aggregate
principal amount of California Lyon’s $350.0 million of outstanding
7.00% senior notes due 2022. The Company intends to repay the
remaining outstanding $50.0 million in aggregate principal amount
of the 7.00% senior notes due 2022 with free cash flow in a
subsequent period as part of its overall deleveraging strategy.
The 2027 notes are being offered and sold to persons reasonably
believed to be qualified institutional buyers pursuant to Rule 144A
under the Securities Act of 1933, as amended (the “Securities
Act”), and outside the United States in compliance with Regulation
S under the Securities Act. The 2027 notes have not been registered
under the Securities Act or the securities laws of any other
jurisdiction and may not be offered or sold in the United States
absent registration or an applicable exemption from such
registration requirements.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the 2027 notes or any other
securities and shall not constitute an offer or a solicitation of
an offer to buy, or a sale of, the 2027 notes or any other
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any state or any
jurisdiction. Any offer, if at all, will be made only pursuant to
Rule 144A under the Securities Act.
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 of the 2027 notes or the
redemption of the 7.00% senior notes due 2022, each as 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. Additional information concerning factors
that could cause actual results to differ materially is contained
from time to time in the Company’s filings with the Securities and
Exchange Commission, including, but not limited to, the Company’s
annual report on Form 10-K for the year ended December 31, 2018,
and its quarterly report on Form 10-Q for the quarter ended March
31, 2019. The Company disclaims any intention or obligation to
revise any forward-looking statements, including financial
estimates, whether as a result of new information, future events or
otherwise.
About William Lyon Homes
William Lyon Homes is one of the largest Western U.S. regional
homebuilders. Headquartered in Newport Beach, California, the
Company is primarily engaged in the design, construction, marketing
and sale of single-family detached and attached homes in
California, Arizona, Nevada, Colorado, Washington, Oregon and
Texas. Its core markets include Orange County, Los Angeles, San
Diego, Riverside, San Bernardino, the South and East Bay Areas of
San Francisco, Phoenix, Las Vegas, Denver, Fort Collins, Portland,
Seattle, Houston, Austin and San Antonio. The Company has a
distinguished legacy of more than 60 years of homebuilding
operations, over which time it has sold in excess of 108,000 homes.
The Company markets and sells its homes under the William Lyon
Homes brand in all of its markets except for Washington and Oregon,
where the Company operates under the Polygon Northwest brand.
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version on businesswire.com: https://www.businesswire.com/news/home/20190624005702/en/
Investor/Media Contacts: Larry Clark Financial Profiles,
Inc. (310) 622-8223 WLH@finprofiles.com
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