William Lyon Homes announces offering of US$75M aggregate principal amount of additional 8.5% senior notes due 2020 under Nov. 8, 2012, indenture; company plans to use net proceeds for general corporate purposes

Allison Oesterle

NEWPORT BEACH, California , October 21, 2013 (press release) – William Lyon Homes (NYSE: WLH) (the “Company”) today announced its intention, subject to market and other conditions, to privately offer $75 million in aggregate principal amount of additional 8.5% senior notes due 2020 (the “Notes”) through its wholly owned subsidiary, William Lyon Homes, Inc. (the “Issuer”). The Notes are being offered as additional notes under the indenture, dated as of November 8, 2012, among the Issuer, the guarantors party thereto and U.S. Bank National Association, as trustee, pursuant to which the Issuer issued $325 million in aggregate principal amount of its 8.5% Senior Notes due 2020 on November 8, 2012 (the “Existing Notes”). The Notes will be treated as a single series with, and will have the same terms as, the Existing Notes.

The Company intends to use the net proceeds for general corporate purposes, including the acquisition and development of land and home construction.

The Notes will not initially be registered under the Securities Act of 1933, as amended (the “Securities Act”), or under any state securities law; and unless so registered, the Notes may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes are being offered only to qualified institutional buyers under Rule 144A and outside the United States in compliance with Regulation S under the Securities Act.

This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.

About William Lyon Homes

Headquartered in Newport Beach, California, the Company is primarily engaged in the design, construction, marketing and sale of single-family detached and attached homes in California, Arizona, Nevada and Colorado. Its core markets include Orange County, Los Angeles, San Diego, the San Francisco Bay Area, Phoenix, Las Vegas, Denver and Fort Collins. The Company has a distinguished legacy of more than 55 years of homebuilding operations, over which time it has sold in excess of 76,000 homes. The Company markets and sells its homes under the William Lyon Homes brand in all of its markets except for Colorado, where the Company operates under the Village Homes brand.

FORWARD-LOOKING STATEMENTS

Statements contained in this news release that state the Company’s or management’s intentions, expectations or predictions of the future are forward-looking statements. Specifically, the Company cannot assure you that the proposed transaction described above will be consummated on the terms currently contemplated, if at all. Actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially is contained from time to time in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including but not limited to the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2013. The Company disclaims any intention or obligation to revise any forward-looking statements, including financial estimates, whether as a result of new information, future events or otherwise.

Contacts

William Lyon Homes
Investor Relations
Larry Clark, 310-478-2700 ext. 29
lclark@finprofiles.com

© 2024 Business Wire, Inc., All rights reserved.