Crescent Communities to redeem $20 million of 8 7/8% notes due 2021

By Sarah Lizee

Olympia, Wash., Sept. 1 – Crescent Communities, LLC and wholly owned subsidiary Crescent Ventures, Inc. announced their intention to redeem $20 million of the outstanding $400 million 8 7/8% senior secured notes due 2021 on Oct. 2, according to a news release.

The notes will be redeemed at 103% of their principal amount plus accrued and unpaid interest up to but excluding the redemption date.

The notes will be selected according to the applicable procedures of Depository Trust Co. as the depositary for the notes.

Crescent Communities is a real estate developer based in Charlotte, N.C.

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