Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for William Lyon Homes Inc. > News item |
William Lyon Homes measuring market for $200 million 10-year notes via UBS Warburg
By Paul A. Harris
St. Louis, Mo., Aug. 16 - William Lyon Homes filed a registration statement Friday with the Securities and Exchange Commission for an offering of $200 million of 10-year senior notes - and said it hopes to complete the transaction during 2002.
In a conversation Friday with Prospect News, company president Wade H. Cable said that William Lyon presently has a weather eye trained on the high-yield primary market.
"Right now the market is obviously pretty dead," Cable commented. "We invested the work in doing the registration, up until the world started getting strange.
"New issues are kind of sketchy right now, so right now we don't have any time frame in mind."
Cable added that the Newport Beach, Calif. homebuilder hopes to complete the transaction sometime during 2002.
"The market has to be there," Cable added.
The bookrunner for the offering is UBS Warburg with co-manager Salomon Smith Barney.
The notes would be non-callable for five years and contain a equity clawback.
Proceeds would be used to repay debt, including approximately $71 million of 12½% notes due 2003, which were issued by The Presley Co.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.