WCI Communities convertible noteholders plan to exercise put option

By Caroline Salls

Pittsburgh, June 26 - WCI Communities, Inc. has received notice that some of the holders of its $125 million 4% contingent convertible senior subordinated notes due 2023 intend to exercise their option to require the company to repurchase the notes at par on Aug. 5, according to an 8-K filed with the Securities and Exchange Commission.

The deadline for convertible noteholders to exercise the repurchase option is Aug. 4.

WCI is a Bonita Springs, Fla., builder of master-planned lifestyle communities.

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