LGI Homes, Inc. announced the pricing of its offering of $400 million aggregate principal amount of unsecured Senior Notes due 2032. The Notes will bear interest at a rate of 7.000% per annum.
The sale of these Notes is expected to be completed on November 15, 2024, subject to customary closing conditions. The Notes will be initially guaranteed on a senior unsecured basis by the company’s subsidiaries that also guarantee its revolving credit facility.
LGI Homes intends to use the net proceeds from this offering to repay a portion of the outstanding borrowings under its revolving credit facility. This move aims to optimize the company's debt profile and enhance its financial flexibility.
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