LGI Homes Launches $400 Million Senior Notes Offering
LGI Homes Announces $400 Million Senior Notes Offering
Today, LGI Homes, Inc. (NASDAQ: LGIH) has made headlines with its latest financial move, pricing a substantial offering of $400 million in unsecured Senior Notes due 2032. This decision showcases the company’s proactive strategies in the ever-evolving homebuilding industry.
Details of the Senior Notes
The newly priced Senior Notes will accrue interest at an attractive rate of 7.000% per annum. These notes are set to be guaranteed by several of the company’s subsidiaries, which are also responsible for guaranteeing obligations under LGI Homes’ revolving credit facility. This strong backing underscores the financial stability of LGI Homes.
Purpose of the Offering
Proceeds from the offering are intended to be utilized primarily to reduce existing borrowings under the company's revolving credit facility. This strategic move will help streamline their financial obligations and enhance liquidity, positioning LGI Homes favorably for future growth.
Criteria for Investors
The offering is specifically aimed at institutional buyers deemed qualified under Rule 144A of the Securities Act. Certain non-U.S. investors will also have the opportunity to participate via Regulation S. This selective approach aligns well with the company’s commitment to forging strong partnerships with credible institutional investors.
The Company’s Legacy
Founded in 2003 and headquartered in The Woodlands, Texas, LGI Homes has emerged as a leading player in the homebuilding industry, successfully delivering over 70,000 homes to date. With operations across 36 markets in 21 states, LGI Homes has consistently demonstrated a commitment to quality and services that resonate with their customers.
Acknowledgments and Awards
LGI Homes has not only excelled in construction quality but has also earned recognition for exceptional customer service. The company was recently acknowledged in Newsweek’s list of the World’s Most Trustworthy Companies and has received accolades as one of the Top Workplaces USA 2024, reflecting its excellent workplace culture.
Investor Relations Contact
For investors looking to reach out for more information, Joshua D. Fattor, Executive Vice President of Investor Relations and Capital Markets, is available for inquiries. He can be reached at (281) 210-2586 or via email at investorrelations@lgihomes.com.
Frequently Asked Questions
What are the terms of LGI Homes' Senior Notes?
LGI Homes' Senior Notes have a total offering of $400 million with an interest rate of 7.000% per annum, due in 2032.
How will the proceeds from the Senior Notes be used?
The proceeds from the offering will be primarily used to repay certain outstanding borrowings under the company's revolving credit facility.
Who is eligible to invest in these Senior Notes?
The offering is directed towards qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S.
What makes LGI Homes a trusted brand?
LGI Homes has been recognized for its quality construction and exceptional customer service, making it one of America's fastest-growing homebuilders.
How can investors contact LGI Homes for more information?
Investors can contact Joshua D. Fattor directly at (281) 210-2586 or email investorrelations@lgihomes.com.
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