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Ashton Woods talks $125 million 10-year notes at 9¼% area, pricing Thursday afternoon
By Paul A. Harris
St. Louis, Sept. 14 - Ashton Woods USA LLC/Ashton Woods Finance Co. talked its $125 million offering of 10-year senior subordinated notes (B3/B-) for a yield in the 9¼% area, according to an informed source.
The offering is expected to price on Thursday afternoon.
UBS Investment Bank and Wachovia Securities are joint bookrunners for the Rule 144A with registration rights offering.
The notes come with five years of call protection.
Proceeds will be used to repay bank debt.
The prospective issuer is a home builder with operations in Atlanta, Dallas, Houston, Orlando, Fla., and Phoenix, and is establishing operations in Tampa and Denver.
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