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AV Homes begins four-week tender for $200 million 8½% notes due 2019
By Susanna Moon
Chicago, May 1 – AV Homes, Inc. said it is tendering for its $200 million of outstanding 8½% senior notes due 2019 until 11:59 p.m. ET on May 26.
The total purchase price will be $1,038.87 for each $1,000 principal amount of notes tendered by 5 p.m. ET on May 17, the early tender date.
The total amount includes an early tender payment of $6.99 per $1,000 principal amount.
Holders who tender after the early deadline will receive the tender offer price of $1,031.88 per $1,000 principal amount.
The company also will pay accrued interest up to but excluding the payment date, which will be May 18 for early tendered notes and May 30 for any remaining tenders.
Tendered notes may be withdrawn before the early tender date.
The tender is contingent on the company closing a concurrent offering of senior notes.
J.P. Morgan Securities LLC (212 834-4811 or 866 834-4666) is the dealer manager. For document requests, contact D.F. King & Co., Inc. at 800 622-1649, 212 269-5550 or avhomes@dfking.com.
AV Homes is a Scottsdale, Ariz.-based homebuilder.
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