Deal Description: LGI Homes, Inc. (NASDAQ: LGIH) (“LGI Homes” or the “Company”) announced on November 17, 2023 that it has priced its previously announced private offering (the “Offering”) to eligible purchasers pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, of $400 million aggregate principal amount of unsecured 8.750% Senior Notes due 2028 (the “Notes”).
The Notes will mature on December 15, 2028. The Notes will be initially 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 November 21, 2023, subject to customary closing conditions.
The Company intends to use the net proceeds from the Offering to repay a portion of the outstanding borrowings under its revolving credit facility.
Baker Botts L.L.P. represented LGI Homes in the Offering.
Baker Botts Lawyers/Office Involved:
- Corporate: Tim Taylor (Partner, Houston); Lakshmi Ramanathan (Special Counsel, Houston); Derek Gabriel (Associate, Dallas); Cade Luedde (Associate, Houston)
- Finance: Clint Culpepper (Partner, Austin); Regan Vicknair (Associate, Houston)
- Tax: Michael Bresson (Partner, Houston); Chuck Campbell (Special Counsel, Houston)
- Employee Benefits: Jason Loden (Partner, Dallas); Katie Birnhak (Associate, New York)
- Environmental: Scott Janoe (Partner, Houston); Elizabeth Singleton (Special Counsel, Houston)
For more information, please see LGI Home’s news release by clicking here.
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