Deal Description: LGI Homes, Inc. (NASDAQ: LGIH) (“LGI Homes” or the “Company”) announced on June 28, 2018, that it has priced its previously announced private offering to eligible purchasers pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, of $300 million aggregate principal amount of unsecured 6.875% Senior Notes due 2026 (the “Notes”).
The Notes will mature on July 15, 2026. The Notes will be guaranteed, jointly and severally on a senior unsecured basis, by the Company’s subsidiaries that guarantee the Company’s obligations under its revolving credit facility. The sale of the Notes is expected to be completed on July 6, 2018, subject to customary closing conditions.
LGI Homes intends to use the net proceeds from the offering to repay a portion of the borrowings under its revolving credit facility.
Baker Botts L.L.P. represented LGI Homes in the private offering of the Notes.
Baker Botts Lawyers/Office Involved:
- Corporate: Tim Taylor (Partner, Houston); Lakshmi Ramanathan (Associate, Houston); Gita Pathak (Associate, Houston)
- Finance: Lyman Paden (Partner, Houston)
- Tax: Don Lonczak (Partner, Washington); Peter Farrell (Associate, Washington)
- Employee Benefits: Rob Fowler (Partner, Houston); Stephanie Jeane (Associate, Houston)
- Environmental: Scott Janoe (Partner, Houston); Laura Williams (Associate, Houston)
- Real Estate: Connie Simmons Taylor (Partner, Houston); Sarabeth Westwood (Associate, Houston)
For more information, please see LGI Home’s news release by clicking here.
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