TRI Pointe to price $300 million five-year bullet in Monday drive-by

By Paul A. Harris

Portland, Ore., May 23 – TRI Pointe Group, Inc. plans to price a $300 million offering of five-year senior notes on Monday trailing a late-morning conference call with investors, according to a syndicate source.

Citigroup Global Markets Inc. is the left bookrunner for the public offering. J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are the joint bookrunners.

U.S. Bancorp Investments Inc., Fifth Third Securities Inc. and Zelman are the co-managers.

The notes feature a make-whole call at Treasuries plus 50 basis points, as well as a par call 30 days prior to maturity, but are otherwise non-callable.

Proceeds will be used to repay borrowings under the revolver and for general corporate purposes.

TRI Pointe Group is an Irvine, Calif.-based multi-state homebuilder.

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