Century Communities, Inc. announced the launch of a private offering of $500 million aggregate principal amount of new Senior Notes due 2033.
The offering targets qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S.
The net proceeds will be used to redeem all $500.0 million aggregate principal amount of the Company's 6.750% Senior Notes due 2027.
Private Offering of Senior Notes
Century Communities is offering $500 million of new Senior Notes due 2033 in a private offering to qualified institutional buyers and certain non-U.S. persons.
Redemption of Existing Notes
The company plans to redeem all $500.0 million of its 6.750% Senior Notes due 2027 using the net proceeds from the offering.
Market Conditions
The terms and pricing of the Notes are subject to market conditions, and the completion of the Offering and Redemption depends on market factors.
- The launch of the private offering indicates Century Communities' strategic move to raise capital and manage its debt obligations effectively.
- Redeeming the existing Senior Notes due 2027 demonstrates the company's commitment to optimizing its financial structure and capital allocation.
Century Communities' decision to launch a private offering and redeem existing notes reflects its proactive approach to financial management and debt restructuring in line with its long-term growth strategy.