WCI Communities starts three-day roadshow Monday for $200 million 10-year notes

By Paul A. Harris

St. Louis, Mo., April 12 - WCI Communities, Inc. on Friday became the fifth homebuilder to announce a high-yield offering since the beginning of April. The Bonita Springs, Fla. company will start a three-day roadshow Monday for $200 million of senior subordinated notes due 2012 (B1/B), according to syndicate sources.

The deal is set to price Wednesday.

UBS Warburg is the bookrunner. Co-managers are Credit Suisse First Boston, Deutsche Bank Securities Inc. and Fleet Securities.

The Rule 144A notes are non-callable for five years.

Proceeds will be used to repay debt.

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