TRI Pointe Group to pay down $200 million of $625 million revolver

By Angela McDaniels

Tacoma, Wash., June 5 – TRI Pointe Group, Inc. plans to repay about $200 million of borrowings under its $625 million revolving credit facility due 2019, according to a company news release.

The company will use proceeds from a $250 million offering of senior notes. Proceeds will also be used for general corporate purposes, which may include the repayment of outstanding debt, the acquisition of additional properties, the repurchase of common stock, working capital and capital expenditures.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Wells Fargo Securities, LLC and U.S. Bancorp Investments, Inc. are the bookrunners for the notes with Fifth Third Securities, Inc. and Zelman Partners, LLC as co-managers.

TRI Pointe is a homebuilder based in Irvine, Calif.

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