DSLD Homes talks $250 million STL Holding five-year notes at 9% area; pricing Wednesday

By Paul A. Harris

Portland, Ore., Jan. 31 – STL Holding Co., LLC, doing business as DSLD Homes, talked its $250 million offering of five-year senior notes (B1/B/BB-) to yield in the 9% area, according to market sources.

Books were scheduled to close mid-morning on Wednesday, and the deal was set to price thereafter.

The Rule 144A and Regulation S notes come with two years of call protection.

BNP Paribas Securities Corp. is the lead.

The homebuilder plans to use the proceeds to redeem its 7½% notes due 2026 and to pay down its revolving credit facility.

The company operates in northwest Florida, Alabama, Mississippi and east Texas.

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