Beazer Homes Announces Pricing of Senior Secured Notes Offering
03 9월 2009 - 10:19PM
Business Wire
Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com) (the
“Company”) today priced its previously announced offering of 12%
Senior Secured Notes due 2017 (the “Notes”) at an issue price equal
to 89.50% of the $250 million aggregate principal amount of the
Notes. The Notes are being offered in a private offering that is
exempt from the registration requirements of the Securities Act of
1933 (the “Securities Act”). The Company is offering the Notes
within the United States to qualified institutional buyers in
accordance with Rule 144A and outside the United States in
accordance with Regulation S under the Securities Act. The Company
intends to use the net proceeds from the offering to fund (or
replenish cash that has been used to fund) open-market repurchases
of its outstanding senior notes that it has made (or has agreed to
make) since April 1, 2009. The offering is expected to close on or
about September 11, 2009, subject to customary closing
conditions.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the Notes nor does it
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale is unlawful. The Notes will
not be registered under the Securities Act or applicable state
securities laws, and are being offered only to qualified
institutional buyers in reliance on Rule 144A under the Securities
Act and outside the United States in accordance with Regulation S
under the Securities Act. Unless so registered, the Notes cannot be
offered or sold in the United States except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable
state securities laws.
Beazer Homes USA, Inc., headquartered in Atlanta, is one of the
country’s ten largest single-family homebuilders operating in
Arizona, California, Delaware, Florida, Georgia, Indiana, Maryland,
Nevada, New Jersey, New Mexico, North Carolina, Pennsylvania, South
Carolina, Tennessee, Texas, and Virginia. Beazer Homes is listed on
the New York Stock Exchange under the ticker symbol “BZH.”
Forward Looking
Statements
This press release contains forward-looking statements. These
forward-looking statements represent our expectations or beliefs
concerning future events, and it is possible that the results
described in this press release will not be achieved. These
forward-looking statements are subject to risks, uncertainties and
other factors, many of which are outside of our control, that could
cause actual results to differ materially from the results
discussed in the forward-looking statements, including, among other
things, (i) the final outcome of various putative class action
lawsuits, the derivative claims, multi-party suits and similar
proceedings as well as the results of any other litigation or
government proceedings and fulfillment of the obligations in the
Deferred Prosecution Agreement and other settlement agreements and
consent orders with governmental authorities; (ii) additional asset
impairment charges or writedowns; (iii) economic changes nationally
or in local markets, including changes in consumer confidence,
volatility of mortgage interest rates and inflation; (iv) continued
or increased downturn in the homebuilding industry; (v) estimates
related to homes to be delivered in the future (backlog) are
imprecise as they are subject to various cancellation risks which
cannot be fully controlled, (vi) our ability to maintain the
listing of our common stock on the New York Stock Exchange, (vii)
continued or increased disruption in the availability of mortgage
financing; (viii) our cost of and ability to access capital and
otherwise meet our ongoing liquidity needs including the impact of
any further downgrades of our credit ratings or reductions in our
tangible net worth or liquidity levels; (ix) potential inability to
comply with covenants in our debt agreements; (x) our ability to
successfully complete any restructuring of our indebtedness; (xi)
increased competition or delays in reacting to changing consumer
preference in home design; (xii) shortages of or increased prices
for labor, land or raw materials used in housing production; (xiii)
factors affecting margins such as decreased land values underlying
land option agreements, increased land development costs on
projects under development or delays or difficulties in
implementing initiatives to reduce production and overhead cost
structure; (xiv) the performance of our joint ventures and our
joint venture partners; (xv) the impact of construction defect and
home warranty claims including those related to possible
installation of drywall imported from China; (xvi) the cost and
availability of insurance and surety bonds; (xvii) delays in land
development or home construction resulting from adverse weather
conditions; (xviii) potential delays or increased costs in
obtaining necessary permits as a result of changes to, or complying
with, laws, regulations, or governmental policies and possible
penalties for failure to comply with such laws, regulations and
governmental policies; (xix) effects of changes in accounting
policies, standards, guidelines or principles; or (xx) terrorist
acts, acts of war and other factors over which the Company has
little or no control.
Any forward-looking statement speaks only as of the date on
which such statement is made, and, except as required by law, we do
not undertake any obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. New factors emerge from time to time
and it is not possible for management to predict all such
factors.
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