Millrose Properties, Inc. Announces Launch of $1.0 Billion Senior Notes Offering
Millrose Properties launched an offering of up to $1.0 billion in senior notes, split into $500 million due 2029 and $500 million due 2031, sold under Rule 144A/Reg S exemptions. Net proceeds plus a $500 million delayed draw term loan will fund general corporate purposes, including homesite acquisitions from the combined Dream Finders/Beazer entity, and repay $850 million outstanding on the revolver.
Key figures
- Deal Value Usd
- 1000000000
- Tranche 2029
- 500000000
- Tranche 2031
- 500000000
- Term loan draw
- 500000000
- Revolver outstanding
- 850000000
- Special mandatory redemption
- 500000000
AI analysis
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