| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Ashton Woods USA LLC > News item |
Ashton Woods accepts early tenders for $204.76 million of 6 7/8% notes
By Marisa Wong
Morgantown, W.Va., March 27 – Ashton Woods USA LLC and Ashton Woods Finance Co. said holders had tendered $204,756,000 of their 6 7/8% senior notes due 2021 as of 5 p.m. ET on March 26, the early tender date of their previously announced tender offer.
The companies launched on March 13 a tender offer for any and all of the outstanding $250 million 6 7/8% notes due 2021.
All of the tendered notes have been accepted for purchase, according to a Wednesday news release.
Holders will receive a total consideration of $1,002.86 per $1,000 principal amount. The total consideration includes an early tender premium of $50.00 per $1,000 principal amount of notes tendered by the early tender date.
Holders tendering after the early tender time will only be eligible to receive the tender offer consideration of $952.86 per $1,000 principal amount, or the total consideration less the early tender premium.
The companies will also pay accrued interest up to but excluding the applicable settlement date, which is March 27 for the early tendered notes.
The tender offer will expire at midnight ET at the end of the day on April 9. Payment for any remaining tenders will be made on a date soon after the expiration time.
Tenders may no longer be withdrawn.
As previously announced, the tender offer is contingent upon, among other things, completion of a new notes offering. Ashton Woods announced on Wednesday that it closed its $255 million offering of 9 7/8% senior notes due 2027.
J.P. Morgan Securities LLC (212 270-6091) is dealer manager for the tender offer, and D.F. King & Co., Inc. (212 269-5550 or 866 829-0135) is tender agent and information agent.
Ashton Woods is an Atlanta-based homebuilder.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.