5.875% Senior Notes due 2027
Search documents
TAYLOR MORRISON ANNOUNCES EXPIRATION AND RESULTS OF CASH TENDER OFFER FOR ANY AND ALL OUTSTANDING 5.875% SENIOR NOTES DUE 2027
Prnewswire· 2025-11-10 12:30
Core Viewpoint - Taylor Morrison Home Corporation announced the expiration of its cash tender offer for its outstanding 5.875% Senior Notes due 2027, which took place from November 3 to November 7, 2025, with valid tenders amounting to approximately $479.155 million, representing 95.83% of the total outstanding amount of $500 million [1][3][4]. Group 1: Tender Offer Details - The cash tender offer was initiated by Taylor Morrison Communities, Inc., a wholly owned subsidiary of Taylor Morrison Home Corporation [1]. - The expiration time for the tender offer was set for 5:00 p.m. New York City time on November 7, 2025 [1]. - The purchase price for the validly tendered notes was set at $1,023.07 per $1,000 principal amount [3]. Group 2: Financial Implications - The Offeror plans to use a portion of the proceeds from a new issuance of $525 million aggregate principal amount of 5.750% senior notes due 2032 to fund the payment for the notes purchased in the tender offer [4]. - Payment for the validly tendered notes is expected to occur on November 10, 2025 [4]. Group 3: Future Actions - Following the settlement of the tender offer, the Offeror intends to redeem any outstanding notes that were not purchased [5]. - A conditional notice of redemption has been issued for any remaining notes, with a target redemption date around December 2, 2025, contingent upon receiving sufficient funds from the senior notes offering [5]. Group 4: Company Background - Taylor Morrison is recognized as one of the leading homebuilders and developers in the United States, serving a diverse range of consumers across various market segments [8].
TAYLOR MORRISON ANNOUNCES PRICING TERMS OF CASH TENDER OFFER FOR ANY AND ALL OUTSTANDING 5.875% SENIOR NOTES DUE 2027
Prnewswire· 2025-11-07 20:46
Core Viewpoint - Taylor Morrison Home Corporation announced a cash tender offer to purchase all outstanding 5.875% Senior Notes due 2027, with pricing terms detailed in the Offer to Purchase and related documents [1][2]. Summary by Sections Offer Details - The cash tender offer is made by Taylor Morrison Communities, Inc., a wholly owned subsidiary of Taylor Morrison Home Corporation [1]. - The total amount of the outstanding Notes is $500 million [2]. - The purchase price for each $1,000 principal amount of Notes validly tendered is set at $1,023.07, based on a fixed spread of 50 basis points over the yield of a U.S. Treasury Reference Security [2][4]. Payment and Expiration - Holders of the Notes will receive accrued and unpaid interest from the last interest payment date up to the initial payment date, expected on November 10, 2025 [5]. - The offer is scheduled to expire at 5:00 p.m. New York City time on November 7, 2025, unless extended [6]. Conditions and Future Actions - The offer is not conditioned on a minimum amount of Notes being tendered, and the Offeror expects to finance the purchase with proceeds from a senior notes offering and cash on hand [7]. - If the Offer is completed but not all Notes are purchased, the Offeror intends to redeem any remaining outstanding Notes around December 2, 2025 [8]. Management and Contact Information - J.P. Morgan Securities LLC is serving as the exclusive dealer manager for the Offer, while D.F. King & Co., Inc. is the tender agent and information agent [10].
TAYLOR MORRISON ANNOUNCES CASH TENDER OFFER FOR ANY AND ALL OUTSTANDING 5.875% SENIOR NOTES DUE 2027
Prnewswire· 2025-11-03 13:01
Core Viewpoint - Taylor Morrison Home Corporation (TMHC) has initiated a cash tender offer to purchase all outstanding 5.875% Senior Notes due 2027, with the offer commencing on November 3, 2025, and set to expire on November 7, 2025, unless extended or terminated [1][5]. Offer Details - The total principal amount of the Notes outstanding is $500 million [3]. - The Offer includes accrued and unpaid interest from the last payment date up to the initial payment date, expected on November 10, 2025 [4]. - The Offer is not conditioned on a minimum amount of Notes being tendered, but is subject to certain conditions, including the issuance of senior notes yielding at least $525 million in gross cash proceeds [6]. Payment and Redemption - The Purchase Price for each $1,000 principal amount of Notes will be determined based on a fixed spread and the yield to maturity of the U.S. Treasury Reference Security [5][6]. - If the Offer is completed but not all Notes are purchased, the company plans to redeem any remaining outstanding Notes around December 2, 2025 [8]. Management and Contacts - J.P. Morgan Securities LLC is serving as the exclusive dealer manager for the Offer, while D.F. King & Co., Inc. is the tender agent and information agent [10].