Meritage Homes Announces Pricing of $450 Million of 3.875% Senior Notes Due 2029

Rhea-AI Summary

Meritage Homes Corporation (NYSE: MTH) announced the pricing of $450 million in 3.875% Senior Notes due 2029, increasing the original amount by $50 million. The offering targets qualified institutional buyers under Rule 144A of the Securities Act and Regulation S for international buyers. The closing date for this private placement is set for April 15, 2021. This announcement is not an offer to sell or solicit purchases of securities, which will not be registered under the Securities Act and cannot be sold in the U.S. without proper registration or exemption.

Positive

• Pricing of $450 million Senior Notes indicates strong market confidence.
• Increase of $50 million from initial offering demonstrates heightened investor interest.

Negative

• None.

SCOTTSDALE, Ariz., March 31, 2021 (GLOBE NEWSWIRE) -- Meritage Homes Corporation (NYSE: MTH), a leading U.S. homebuilder, today announced the pricing of $450 million aggregate principal amount of its 3.875% Senior Notes due 2029 (the “notes”), which represents an increase of $50 million from the amount initially offered. The notes were offered 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 to persons other than U.S. persons in reliance upon Regulation S under the Securities Act. The expected closing date for the private placement of these notes is April 15, 2021.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful. The securities will not be registered under the Securities Act of 1933, as amended, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws.

Contacts:        
Emily Tadano, Vice President Investor Relations
(480) 515-8979 (office)
Investors@meritagehomes.com 

FAQ

What are the details of Meritage Homes' Senior Notes offering on March 31, 2021?

Meritage Homes announced a pricing of $450 million in 3.875% Senior Notes due 2029, increasing the size from the initial $400 million.

When is the closing date for Meritage Homes' Senior Notes?

The expected closing date for the private placement of the Senior Notes is April 15, 2021.

Who can purchase the Senior Notes offered by Meritage Homes?

The notes are offered to qualified institutional buyers as defined under Rule 144A and to certain international buyers under Regulation S.

Are Meritage Homes' Senior Notes registered with the SEC?

No, the notes will not be registered under the Securities Act and cannot be sold in the U.S. without exemption.