Ashton Woods to sell $125 million 10-year notes via UBS, Wachovia

By Paul A. Harris

St. Louis, Sept. 6 - Ashton Woods USA LLC and Ashton Woods Finance Co. will start a roadshow Thursday for a $125 million offering of 10-year senior subordinated notes, according to an informed source.

Pricing is expected mid-to-late next week.

UBS Investment Bank and Wachovia Securities are joint bookrunners for the Rule 144A with registration rights offering.

The notes will come with five years of call protection.

Proceeds will be used to repay bank debt.

The prospective issuer is a homebuilder with operations in Atlanta, Dallas, Houston, Orlando, Fla., and Phoenix, and is establishing operations in Tampa, Fla., and Denver.

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