Howard Hughes to price $200 million tap of 5 3/8% notes due 2025 in Monday drive-by

By Paul A. Harris

Portland, Ore., June 12 – Howard Hughes Corp. plans to price a $200 million add-on to its 5 3/8% senior notes due March 15, 2025 in a quick-to-market Monday deal, according a market source.

J.P. Morgan Securities LLC is lead on the Rule 144A and Regulation S offering.

The notes become callable after March 15, 2020.

The Dallas-based real estate developer plans to use the proceeds for general corporate purposes, including repayment of construction financings and ongoing development projects.

The original $800 million issue priced on March 3, 2017.

The add-on notes will become fungible with the original notes.

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