MDC starts capped tender offer for up to $100 million of 5½% notes

Chicago, Sept. 2 – MDC Holdings, Inc. started a cash tender offer for up to $100 million of its $250 million outstanding 5½% senior notes due 2024 (Cusip: 552676AR9), according to a press release on Thursday.

The company is offering a total consideration of $1,063.75 per $1,000 note, an amount that includes a $30 early tender premium for noteholders who tender by the early deadline at 5 p.m. ET on Sept. 16.

Interest will also be paid to the applicable settlement date.

The early tender deadline is also the withdrawal deadline.

The offer will expire at 11:59 p.m. ET on Sept. 30.

Early settlement is expected one business day after the early deadline and two business days after the final expiration time.

Tenders may be subject to proration.

The dealer manager for the tender offer is Citigroup Global Markets Inc. (800 588-3745, 212 723-6106).

Global Bondholder Services, Inc. is the information agent (866 470-4300, 212 430-3774).

The homebuilding and financial services company is based in Denver.

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