LGI Homes announces private offering of $400M unsecured senior notes

LGI Homes has commenced a private offering of $400M aggregate principal amount of unsecured Senior Notes due 2028 to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to certain non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act. The timing of pricing and terms of the Notes are subject to market conditions and other factors. The Notes are expected to 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 Company intends to use the net proceeds from the Offering to repay a portion of the outstanding borrowings under its revolving credit facility.