William Lyon Homes to start roadshow for $200 million 10-year notes Monday

By Paul A. Harris

St. Louis, Feb. 27 - William Lyon Homes starts the roadshow Monday for an offering of $200 million senior notes due 2013 (B3/expected B-), according to a syndicate source.

The deal is expected to price on March 12.

UBS Warburg and Salomon Smith Barney are joint bookrunners.

The registered notes are non-callable for five years, and will contain an equity clawback.

Proceeds will be used to repay debt including $71 million of 12½% notes due 2003 issued by The Presley Cos.

The issuer is a Newport Beach, Calif. homebuilder.

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