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Prospect News home > News index > List of issuers S > Headlines for Shea Homes LP > News item
Published on 9/14/2020 in the Prospect News High Yield Daily.

Shea Homes driving by with $300 million 8.5-year senior notes; initial talk 4¾%-4 7/8%

By Paul A. Harris

Portland, Ore., Sept. 14 – Shea Homes LP plans to price a $300 million offering of 8.5-year senior notes (expected B1/confirmed BB-) in a Monday drive-by, according to market sources.

Initial guidance has the notes coming to yield 4¾% to 4 7/8%.

J.P. Morgan Securities LLC is leading the deal.

The notes come with 3.5 years of call protection.

The Walnut, Calif.-based homebuilder plans to use the proceeds to refinance its existing senior notes due 2025.


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