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Kimball Hill talks $200 million seven-year notes at 10½%-10¾%
By Paul A. Harris
St. Louis, Dec. 12 - Kimball Hill Inc. has issued price talk for its $200 million offering of seven-year senior subordinated notes (B) at 10½% to 10¾%, according to a market source.
The issue is expected to price on Wednesday.
JP Morgan and Harris Nesbitt are joint bookrunners.
The notes come with four years of call protection.
Proceeds will be used to repay debt.
The prospective issuer is a Rolling Meadows, Ill., builder of single-family detached homes, townhouses and condominiums in the Chicago area, California, Florida, Nevada, Ohio, Oregon, Texas, Washington and Wisconsin.
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