TRI Pointe to price $250 million 10-year bullet in Monday drive-by

By Paul A. Harris

Portland, Ore., June 5 – TRI Pointe Group, Inc. plans to price a $250 million offering of 10-year senior bullet notes (BB-) in a quick-to-market Monday transaction, according to a market source.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC and U.S. Bancorp Investments Inc. are joint bookrunners for the public offering.

Fifth Third Securities and Zelman Partners LLC are the co-managers.

The Irvine, Calif.-based homebuilder intends to use the net proceeds to repay about $200 million of borrowings under its $625 million unsecured revolving credit facility, which matures on May 18, 2019, with the remainder to be used for general corporate purposes, which may include debt repayment, property acquisition, the repurchase of common shares via the previously announced stock repurchase program, working capital and capital expenditures.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.