LGI Homes Announces Private Offering of $400 Million of Unsecured Senior Notes due 2032
LGI Homes has announced a private offering of $400 million in unsecured Senior Notes due 2032. The notes will be offered to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act. The notes will be guaranteed by the Company's subsidiaries that guarantee its revolving credit facility. The proceeds will be used to repay a portion of outstanding borrowings under the Company's revolving credit facility. The offering is subject to market conditions and has not been registered under the Securities Act.
LGI Homes ha annunciato un'offerta privata di 400 milioni di dollari in Obbligazioni Senior non garantite con scadenza nel 2032. Le obbligazioni saranno offerte a investitori istituzionali qualificati ai sensi della Regola 144A e a persone non statunitensi ai sensi della Regolamentazione S del Securities Act. Le obbligazioni saranno garantite dalle filiali della Società che garantiscono il suo credito revolving. Il ricavato sarà utilizzato per rimborsare una parte dei prestiti in essere sotto il credito revolving della Società. L'offerta è soggetta alle condizioni di mercato e non è stata registrata ai sensi del Securities Act.
LGI Homes ha anunciado una oferta privada de 400 millones de dólares en Notas Senior no garantizadas que vencen en 2032. Las notas se ofrecerán a compradores institucionales calificados bajo la Regla 144A y a personas no estadounidenses bajo la Regulación S de la Ley de Valores. Las notas estarán garantizadas por las filiales de la Compañía que garantizan su línea de crédito revolvente. Los fondos se utilizarán para pagar una parte de los préstamos pendientes bajo la línea de crédito revolvente de la Compañía. La oferta está sujeta a las condiciones del mercado y no ha sido registrada bajo la Ley de Valores.
LGI Homes는 2032년 만기인 4억 달러 규모의 무담보 선순위 채권의 비공식 공모를 발표했습니다. 이 채권은 규정 144A에 따라 자격을 갖춘 기관 투자자 및 증권법의 규정 S에 따라 비미국인에게 제공됩니다. 채권은 회사의 회전신용시설을 보증하는 자회사에 의해 보증됩니다. 발생한 자금은 회사의 회전신용시설에 있는 일부 미지급 차입금을 상환하는 데 사용될 것입니다. 이 공모는 시장 상황에 따라 달라지며 증권법에 따라 등록되지 않았습니다.
LGI Homes a annoncé une offre privée de 400 millions de dollars en Obligations Senior non garanties arrivant à échéance en 2032. Les obligations seront offertes à des acheteurs institutionnels qualifiés en vertu de la règle 144A et à des personnes non américaines en vertu de la réglementation S de la Loi sur les valeurs mobilières. Les obligations seront garanties par les filiales de la société qui garantissent sa ligne de crédit renouvelable. Le produit sera utilisé pour rembourser une partie des emprunts en cours sous la ligne de crédit renouvelable de la société. L'offre est soumise aux conditions du marché et n'a pas été enregistrée en vertu de la Loi sur les valeurs mobilières.
LGI Homes hat eine private Platzierung von 400 Millionen Dollar in unbesicherten Senior Notes mit Fälligkeit 2032 angekündigt. Die Anleihen werden gemäß Regel 144A an qualifizierte institutionelle Käufer und an Personen außerhalb der USA gemäß Regulation S des Wertpapiergesetzes angeboten. Die Anleihen werden durch die Tochtergesellschaften des Unternehmens, die seine revolvierende Kreditlinie garantieren, abgesichert. Die Erlöse werden verwendet, um einen Teil der ausstehenden Darlehen aus der revolvierenden Kreditlinie des Unternehmens zurückzuzahlen. Die Platzierung unterliegt den Marktbedingungen und wurde nicht gemäß dem Wertpapiergesetz registriert.
- Debt refinancing through $400 million senior notes offering
- Potential improvement in debt structure through revolving credit facility repayment
- Increase in long-term debt obligations through new notes issuance
Insights
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The private placement to qualified institutional buyers suggests strong institutional interest and confidence in LGIH's long-term prospects. With a market cap of
THE WOODLANDS, Texas, Nov. 12, 2024 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) (“LGI Homes” or the “Company”) today announced that it has commenced a private offering (the “Offering”) of
The timing of pricing and terms of the Notes are subject to market conditions and other factors. The Notes are expected to be initially guaranteed, jointly and severally, on a senior unsecured basis by the Company’s subsidiaries that guarantee the Company’s obligations under its revolving credit facility. The Company intends to use the net proceeds from the Offering to repay a portion of the outstanding borrowings under its revolving credit facility.
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 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 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 LGI Homes, Inc.
Headquartered in The Woodlands, Texas, LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes across 36 markets in 21 states. As one of America’s fastest growing companies, LGI Homes has closed over 70,000 homes since its founding in 2003 and has delivered profitable financial results every year. Nationally recognized for its quality construction and exceptional customer service, LGI Homes was named to Newsweek’s list of the World’s Most Trustworthy Companies. LGI Homes’ commitment to excellence extends to its more than 1,000 employees, earning the Company numerous workplace awards at the local, state and national level, including the Top Workplaces USA 2024 Award.
Forward-Looking Statements
Any statements made in this press release that are not statements of historical fact, including statements about the Company’s beliefs and expectations, are forward-looking statements within the meaning of the federal securities laws, and should be evaluated as such. Forward-looking statements include statements relating to, among other things, statements about the intended use of proceeds or other aspects of the Offering and the Notes. Forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “predict,” “projection,” “should,” “will” or, in each case, their negative, or other variations or comparable terminology. For more information concerning factors that could cause actual results to differ materially from those contained in the forward-looking statements, please refer to the “Risk Factors” section in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, including the “Cautionary Statement about Forward-Looking Statements” subsection within the “Risk Factors” section, the “Risk Factors” and “Cautionary Statement about Forward-Looking Statements” sections in the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024, and subsequent filings by the Company with the Securities and Exchange Commission. The Company bases these forward-looking statements on its current expectations, plans and assumptions that it has made in light of its experience in the industry, as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances and at such time. As you read and consider this press release, you should understand that these statements are not guarantees of future performance or results. The forward-looking statements are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements. Although the Company believes that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could cause the Company’s actual results to differ materially from those expressed in the forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. If the Company does update one or more forward-looking statements, there should be no inference that it will make additional updates with respect to those or other forward-looking statements.
| CONTACT: | Joshua D. Fattor Executive Vice President, Investor Relations and Capital Markets (281) 210-2586 investorrelations@lgihomes.com | |
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