LGI Homes (LGIH) said late Tuesday it priced previously announced offering of $400 million aggregate principal amount of 7% unsecured senior notes due 2032 to qualified institutional buyers.
The notes will be initially guaranteed by LGI Homes subsidiaries that guarantee obligations under its revolving credit facility, according to the statement.
LGI Homes expects to complete the offering Friday and use the proceeds to repay a portion of outstanding borrowings under its revolving credit facility.
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