Adams Homes to repay revolver borrowings with notes proceeds

By Sara Rosenberg

New York, Sept. 21 – Adams Homes Inc. plans to repay all outstanding borrowings under its revolving credit facility using proceeds from a $250 million senior notes offering, according to a market source.

As of June 30, the company had $49.3 million drawn under the revolver.

Remaining proceeds from the notes will be used to tender for up to $100 million of the company’s 7˝% senior notes due 2025, to pay transaction related fees and expenses, and for general corporate purposes.

Adams Homes is a private homebuilder.

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