New Issue-Beazer Homes USA sells $250M 8-yr sr notes

Thu Sep 3, 2009 5:32pm BST
[-] Text [+]

 Sept 3 (Reuters) - Beazer Homes USA Inc (BZH.N: Quote, Profile, Research) on Thursday
sold $250 million of senior secured second lien notes in the
144a private placement market, said IFR, a Thomson Reuters
service.
 The size of the deal was increased from an originally
planned $160 million.
 Citigroup was the sole bookrunning manager for the sale.
BORROWER: BEAZER HOMES USA INC
AMT $250 MLN*     COUPON 12.0 PCT     MATURITY 10/15/2017
TYPE SNR SEC NTS  ISS PRICE 89.5      FIRST PAY 4/15/2010
MOODY'S B1        YIELD 14.215 PCT    SETTLEMENT 9/11/2009
S&P CCC-PLUS      SPREAD 1087.8 BPS   PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    NON-CALLABLE 3 YEARS**
 *$223.75 MLN PROCEEDS TO ISSUER
**MAKE-WHOLE CALL 50 BPS

 
 
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