WCI plans new $300 million term loan

New York, Dec. 2 - WCI Communities, Inc. said it intends to obtain a new $300 million senior unsecured term loan facility.

Proceeds will be used primarily to buy back its 10 5/8% senior subordinated notes due 2011 under a tender offer announced Friday. The Bonita Springs, Fla., builder of traditional and tower residences in lifestyle communities has $298 million of the notes outstanding.

KeyBanc Capital Markets and Wachovia Securities are joint lead arrangers and KeyBanc Capital Markets is bookrunner of the new loan.

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