DSLD Homes marketing $225 million 5.5-year senior notes

By Paul A. Harris

Portland, Ore., Aug. 3 – STL Holding Co. LLC, doing business as DSLD Homes, began marketing a $225 million offering of 5.5-year senior notes (B) on Monday, according to a market source.

The Rule 144A and Regulation S for life deal is set to price later in the Aug. 3 week.

BNP Paribas Securities Corp. is the active bookrunner. Fifth Third Securities Inc. is the passive bookrunner.

The notes become callable after 2.5 years at par plus 50% of the coupon.

The Denham Springs, La.-based home builder plans to use the proceeds to pay off its existing revolver, subsequent to which a new revolver will be put in place, and to use any remaining proceeds for general corporate purposes.

© 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.