LGI Homes to price $300 million eight-year bullet notes on Monday; price talk 4% area

By Paul A. Harris

Portland, Ore., June 14 – LGI Homes, Inc. plans to price a $300 million offering of eight-year senior bullet notes (Ba2/BB-) on Monday afternoon, according to market sources.

Price talk is in the 4% area, inside of initial guidance in the 4¼% area.

Wells Fargo Securities LLC is the left bookrunner. BofA Securities Inc., Fifth Third Securities Inc., U.S. Bancorp Investments Inc., BNP Paribas Securities Corp. and Citizens Capital Markets Inc. are the joint bookrunners.

BMO Capital Markets Corp., Wedbush Securities Inc., PNC Capital Markets LLC, Woodrock and Regions Securities LLC are the co-managers.

The Rule 144A and Regulation S for life notes feature a par call six months prior to maturity but are otherwise non-callable.

The home builder, which is based in The Woodlands, Tex., plans to use the proceeds to redeem its 6 7/8% senior notes due 2026.

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