Ashton Woods to price $250 million eight-year notes on Wednesday

By Paul A. Harris

Portland, Ore., July 24 – Ashton Woods USA LLC and Ashton Woods Finance Co. plan to price a $250 million offering of eight-year senior notes (Caa1/B-) on Wednesday, according to a market source.

J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the joint bookrunners.

The notes come with three years of call protection.

The Atlanta-based luxury home builder plans to use the proceeds to fund a tender offer for up to $100 million of its 6 7/8% senior notes due 2021, which was also announced on Monday, and to repay debt under its revolving credit facility.

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