Forestar Announces Proposed Offering of Senior Unsecured Notes
Forestar Group Inc. (NYSE: FOR) has announced a proposed offering of $500 million in senior unsecured notes due 2033. The notes will be offered through private placement to qualified institutional buyers under Rule 144A of the Securities Act and to non-U.S. persons under Regulation S.
The company plans to use the proceeds to fund a tender offer for its existing $400 million 3.850% Senior Notes due 2026 and for general corporate purposes, including repaying outstanding borrowings under the company's credit facility. The notes will not be registered under the Securities Act or state securities laws and are subject to specific trading restrictions.
Forestar Group Inc. (NYSE: FOR) ha annunciato un'offerta proposta di 500 milioni di dollari in note senior non garantite con scadenza nel 2033. Le note saranno offerte tramite collocamento privato a compratori istituzionali qualificati ai sensi della Regola 144A del Securities Act e a persone non statunitensi ai sensi della Regolamentazione S.
L'azienda prevede di utilizzare i proventi per finanziare un'offerta pubblica di acquisto per le sue note senior esistenti da 400 milioni di dollari con un tasso del 3,850% in scadenza nel 2026 e per scopi aziendali generali, inclusa la restituzione dei prestiti in essere sotto la linea di credito dell'azienda. Le note non saranno registrate ai sensi del Securities Act o delle leggi statali sui valori mobiliari e sono soggette a specifiche restrizioni commerciali.
Forestar Group Inc. (NYSE: FOR) ha anunciado una oferta propuesta de 500 millones de dólares en notas senior no garantizadas con vencimiento en 2033. Las notas se ofrecerán a través de colocación privada a compradores institucionales calificados bajo la Regla 144A de la Ley de Valores y a personas no estadounidenses bajo la Regulación S.
La compañía planea utilizar los ingresos para financiar una oferta pública de compra de sus notas senior existentes de 400 millones de dólares con un interés del 3,850% que vencen en 2026 y para fines corporativos generales, incluyendo el reembolso de préstamos pendientes bajo la línea de crédito de la compañía. Las notas no estarán registradas bajo la Ley de Valores ni bajo las leyes estatales de valores y están sujetas a restricciones comerciales específicas.
Forestar Group Inc. (NYSE: FOR)는 2033년 만기인 5억 달러의 선순위 무담보 채권 제안을 발표했습니다. 이 채권은 증권법 제144A조에 따라 자격을 갖춘 기관 투자자에게 사모로 제공되며, 비미국인에게는 규정 S에 따라 제공됩니다.
회사는 수익금을 사용하여 기존의 4억 달러 규모의 3.850% 선순위 채권(2026년 만기)에 대한 공개 매수를 진행하고, 회사의 신용 시설에서 미지급 대출을 상환하는 등 일반 회사 용도로 사용할 계획입니다. 이 채권은 증권법 또는 주 증권법에 따라 등록되지 않으며 특정 거래 제한이 적용됩니다.
Forestar Group Inc. (NYSE: FOR) a annoncé une offre proposée de 500 millions de dollars en obligations senior non garanties arrivant à échéance en 2033. Les obligations seront proposées par le biais d'un placement privé à des acheteurs institutionnels qualifiés conformément à la règle 144A de la loi sur les valeurs mobilières et à des personnes non américaines conformément à la réglementation S.
La société prévoit d'utiliser les produits pour financer une offre publique d'achat de ses obligations senior existantes de 400 millions de dollars à un taux de 3,850% arrivant à échéance en 2026 et pour des fins générales d'entreprise, y compris le remboursement des emprunts en cours dans le cadre de la ligne de crédit de l'entreprise. Les obligations ne seront pas enregistrées en vertu de la loi sur les valeurs mobilières ou des lois étatiques sur les valeurs mobilières et sont soumises à des restrictions spécifiques de négociation.
Forestar Group Inc. (NYSE: FOR) hat ein vorgeschlagenes Angebot von 500 Millionen Dollar in unbesicherten Senior-Anleihen mit Fälligkeit im Jahr 2033 angekündigt. Die Anleihen werden über eine Privatplatzierung an qualifizierte institutionelle Käufer gemäß Regel 144A des Wertpapiergesetzes und an Nicht-US-Personen gemäß der Regulierung S angeboten.
Das Unternehmen plant, die Erlöse zu verwenden, um ein Übernahmeangebot für seine bestehenden 400 Millionen Dollar 3,850% Senior-Anleihen mit Fälligkeit im Jahr 2026 zu finanzieren und für allgemeine Unternehmenszwecke, einschließlich der Rückzahlung ausstehender Darlehen aus der Kreditfazilität des Unternehmens. Die Anleihen werden nicht gemäß dem Wertpapiergesetz oder den staatlichen Wertpapiergesetzen registriert und unterliegen spezifischen Handelsbeschränkungen.
- Refinancing $400M of existing debt due 2026
- Extending debt maturity profile to 2033
- Additional liquidity through increased offering size ($500M vs $400M)
- Increased debt load by $100M
- New debt issuance may impact interest expenses
Forestar intends to use the net proceeds from this offering to fund a tender offer for any and all of its
The Notes have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in
This announcement does not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other security and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any persons to whom, such an offer, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum.
About Forestar Group Inc.
Forestar Group Inc. is a residential lot development company with operations in 62 markets and 24 states. Based in
Forward-Looking Statements
Portions of this document may constitute “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Although Forestar believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. All forward-looking statements are based upon information available to Forestar on the date this release was issued. Forestar does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Factors that may cause the actual results to be materially different from the future results expressed by the forward-looking statements include, but are not limited to: the effect of D.R. Horton’s controlling level of ownership on Forestar and the holders of Forestar’s securities; Forestar’s ability to realize the potential benefits of the strategic relationship with D.R. Horton; the effect of Forestar’s strategic relationship with D.R. Horton on its ability to maintain relationships with its customers; the cyclical nature of the homebuilding and lot development industries and changes in economic, real estate and other conditions; the impact of significant inflation, higher interest rates or deflation; supply shortages and other risks of acquiring land, construction materials and skilled labor; the effects of public health issues such as a major epidemic or pandemic; the impacts of weather conditions and natural disasters; health and safety incidents relating to Forestar’s operations; Forestar’s ability to obtain or the availability of surety bonds to secure its performance related to construction and development activities and the pricing of bonds; the impact of governmental policies, laws or regulations and actions or restrictions of regulatory agencies; Forestar’s ability to achieve its strategic initiatives; continuing liabilities related to assets that have been sold; the cost and availability of property suitable for residential lot development; general economic, market or business conditions where Forestar’s real estate activities are concentrated; Forestar’s dependence on relationships with national, regional and local homebuilders; competitive conditions in its industry; obtaining reimbursements and other payments from governmental districts and other agencies and timing of such payments; Forestar’s ability to succeed in new markets; the conditions of the capital markets and Forestar’s ability to raise capital to fund expected growth; Forestar’s ability to manage and service its debt and comply with its debt covenants, restrictions and limitations; the volatility of the market price and trading volume of Forestar’s common stock; Forestar’s ability to hire and retain key personnel; and the strength of Forestar’s information technology systems and the risk of cybersecurity breaches and its ability to satisfy privacy and data protection laws and regulations. Additional information about issues that could lead to material changes in performance is contained in Forestar’s annual report on Form 10-K and its most recent quarterly report on Form 10-Q, both of which are filed with the Securities and Exchange Commission.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250304768660/en/
Chris Hibbetts, 817-769-1860
Vice President of Finance & Investor Relations
InvestorRelations@forestar.com
Source: Forestar Group Inc.
FAQ
What is the size of Forestar's (FOR) new senior notes offering in 2033?
How will Forestar (FOR) use the proceeds from the 2033 notes offering?
What are the trading restrictions on Forestar's (FOR) new 2033 notes?
What is the maturity date of Forestar's (FOR) existing notes being tendered?
