Beazer gets tenders of $175.4 million 7½% notes, plans to call rest

By Wendy Van Sickle

Columbus, Ohio, March 13 – Beazer Homes USA, Inc. said it received tenders of $175.4 million, or 88.59%, of its $198 million of outstanding 7½% senior notes due 2021 under its offer to purchase any and all of the notes.

The tender offer ended at 5 p.m. ET on Monday.

The company will pay $1,060.25 for each $1,000 principal amount plus accrued interest.

The tender remains contingent on the company receiving at least $250 million of proceeds from one or more offerings of senior notes, according to a company announcement.

Settlement is expected to occur on Tuesday.

The company said it plans to call the remainder of the outstanding notes as soon as practical after the settlement.

Credit Suisse Securities (USA) LLC (800 820-1653 or 212 325-2476) is the dealer manager. D.F. King & Co., Inc. (212 269-5550, 800 967-5068 or dfking.com/bzh) is the tender and information agent.

The company is an Atlanta-based homebuilder.

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