William Lyon Homes gets $520 million debt commitment for acquisition

By Sara Rosenberg

New York, June 23 – William Lyon Homes has received a commitment for up to $520 million of debt financing to fund the roughly $520 million purchase of the residential homebuilding business of Polygon Northwest Co. LLC, according to an 8-K filed with the Securities and Exchange Commission on Monday.

The company expects that long-term financing for the transaction will come from cash on hand and capital markets transactions.

Closing is expected in the third quarter, subject to customary conditions and regulatory approvals, as well as completion and delivery of certain audited financial statements for the acquired business.

J.P. Morgan acted as exclusive financial advisor for William Lyon and Citigroup acted as exclusive financial advisor for Polygon.

William Lyons is a Newport Beach, Calif.-based regional homebuilder.

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