Century Communities Announces Launch of Private Offering of $400 Million Senior Notes due 2029 and Conditional Redemption of 5.875% Senior Notes due 2025
Century Communities, Inc. (NYSE: CCS) has launched a private offering of $400 million Senior Notes due 2029, targeting qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S. The notes are expected to be secured by the company's wholly-owned subsidiaries. Proceeds will redeem all $400 million of existing 2025 Senior Notes, contingent upon market conditions. A conditional notice has been issued for the redemption on September 2, 2021, at a price of 102.938% of the principal amount plus accrued interest.
- Launching a $400 million Senior Notes offering to strengthen financial position.
- Intended use of proceeds to redeem higher-interest 2025 Senior Notes, potentially reducing interest expenses.
- The note offering is contingent upon market conditions, which introduces uncertainty.
- Redemption of the 2025 Senior Notes is conditional on the successful completion of the offering.
Century Communities, Inc. (NYSE: CCS), a leading national homebuilder, today announced that it has launched a private offering (the “Offering”) of
The terms and timing of pricing of the Notes are subject to market conditions and other factors. The Notes are expected to be guaranteed on an unsecured senior basis by certain of the Company’s current and future subsidiaries, including substantially all of its domestic wholly-owned subsidiaries.
The Company intends to use the net proceeds from the Offering, plus cash on hand, to redeem (the “Redemption”) all
The offer and sale of the Notes and the related guarantees have not been and will not be registered under the Securities Act or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the Notes or any other security, and shall not constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum.
The Company also announced today that it has delivered a conditional notice of redemption (the “Redemption Notice”) calling for the redemption, on September 2, 2021 (the “Redemption Date”), of all of the outstanding 2025 Senior Notes at a redemption price equal to
The Redemption of the 2025 Senior Notes is being made solely pursuant to the Redemption Notice, and this press release does not constitute an offer to purchase or redeem, or a solicitation of an offer to sell, the 2025 Senior Notes.
About Century Communities
Century Communities, Inc. (NYSE: CCS) is a top 10 national homebuilder. Offering new homes under the Century Communities and Century Complete brands, Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Colorado-based company operates in 17 states and 30 markets across the United States, and offers title, insurance and lending services in select markets through its Parkway Title, IHL Home Insurance Agency, and Inspire Home Loan subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, and such statements should not be interpreted to be guarantees of future performance or results. Forward-looking statements are based on our current beliefs or expectations with respect to future events, and are subject to assumptions and unknown risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the beliefs or expectations expressed in or suggested by the forward-looking statements. Forward-looking statements in this press release include statements relating to, among other things, statements about the intended use of proceeds or other aspects of the Offering of the Notes and the Redemption of the 2025 Senior Notes. The following factors, among others, could cause actual results to differ materially from those expressed in the forward-looking statements: adverse changes in general economic conditions, availability of financing, and the other factors included in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law.
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FAQ
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