Howard Hughes to price $800 million eight-year notes on Friday

By Paul A. Harris

Portland, Ore., March 2 – Howard Hughes Corp. is expected to price an $800 million offering of eight-year senior notes on Friday, according to a market source.

Initial guidance has the deal coming with a yield in the mid 5% area.

J.P. Morgan Securities LLC is the lead.

The notes come with three years of call protection.

The Dallas-based property management company plans to use the proceeds to repurchase its 6 7/8% senior notes due 2021, with any remaining proceeds to be used for general corporate purposes.

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