New Issue: Howard Hughes sells $200 million more 5 3/8% notes due 2025 at 102.25

By Paul A. Harris

Portland, Ore., June 12 – Howard Hughes Corp. price a $200 million add-on to its 5 3/8% senior notes due March 15, 2025 at 102.25 on Monday, according to a press release.

The reoffer price came at the rich end of the 102 to 102.25 price talk, a market source said.

J.P. Morgan Securities LLC was the lead.

The Dallas-based real estate developer plans to use the proceeds for general corporate purposes, including repayment of construction financings and ongoing development projects.

Issuer:	Howard Hughes Corp.
Amount:	$200 million
Proceeds:	$204.5 million
Maturity:	March 15, 2025
Security description:	Add-on to 5 3/8% senior notes due March 15, 2025
Lead:	J.P. Morgan Securities LLC
Coupon:	5 3/8%
Price:	102.25
First call date:	March 15, 2020
Trade date:	June 12
Settlement date:	June 15
Distribution:	Rule 144A and Regulation S
Price talk:	102 to 102.25
Marketing:	Quick to market
Original issue:	$800 million priced on March 3, 2017
Fungibility:	Add-on notes will become fungible with original notes
Total issue size:	$1 billion

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