Mattamy Homes starts roadshow for $300 million seven-year notes

By Paul A. Harris

Portland, Ore., Dec. 6 – Mattamy Homes started a roadshow on Tuesday for a $300 million offering of seven-year senior notes, according to a syndicate source.

The Rule 144A and Regulation S for life offering is set to price later in the present week.

Credit Suisse Securities (USA) LLC, RBC Capital Markets Corp. and Wells Fargo Securities LLC are the joint bookrunners.

The notes become callable after three years at par plus 50% of the coupon and feature a three-year 35% equity clawback and a 101% poison put.

The notes will be issued by subsidiary Mattamy Group Corp.

The Burlington, Ont.-based homebuilder plans to use the proceeds to repay its revolving credit facility.

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