Meritage Homes to pay down revolver borrowings with proceeds of notes

By Angela McDaniels

Tacoma, Wash., May 22 – Meritage Homes Corp. plans to repay outstanding borrowings under its revolving credit facility with the proceeds of a new issue of notes, according to a company news release.

The company plans to offer $300 million of senior notes due 2027.

Proceeds will also be used for general corporate purposes, which may include, among other things, the repurchase, tender for or redemption of the company’s 1.875% senior convertible notes due 2032, which are putable and callable in September.

Meritage is a homebuilder based in Scottsdale, Ariz.

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