Meritage Homes Corp. (MTH) said Wednesday that it has priced a $175 million aggregate principal amount of senior unsecured notes due 2018.
The bonds were priced with a coupon of 4.50% and sold at par.
The expected closing date for the private placement of these notes is March 13.
Meritage plans to use a portion of the net proceeds from the offering to repurchase or redeem all $99,825,000 aggregate principal amount of its 7.731% senior subordinated notes due 2017 with the remaining net proceeds to be used for general corporate purposes.
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