Trending...
- Rep. Gina H. Curry and Dr. Conan Tu Inspire at Kopp Foundation for Diabetes Hybrid Fundraising Gala and National Leadership Forum
- Mullins McLeod Surges Into SC Governor's Race with $1.4 Million Raised in First Quarter; Most from His Own Commitment, Not Political Pockets
- "Super Leftist", the new poetry book by Pierre Gervois
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Century Communities, Inc. (NYSE: CCS), a leading national homebuilder, today announced that it has launched a private offering (the "Offering") of $400 million aggregate principal amount of new Senior Notes due 2029 (the "Notes") to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.
The terms and timing of pricing of the Notes are subject to market conditions and other factors. The Notes are expected to be guaranteed on an unsecured senior basis by certain of the Company's current and future subsidiaries, including substantially all of its domestic wholly-owned subsidiaries.
The Company intends to use the net proceeds from the Offering, plus cash on hand, to redeem (the "Redemption") all $400.0 million aggregate principal amount of the Company's 5.875% Senior Notes due 2025 outstanding (the "2025 Senior Notes"). Consummation of the Offering of the Notes and the Redemption of the 2025 Senior Notes are subject to market and other conditions, and there can be no assurance that the Company will be able to successfully complete these transactions on the terms described above, or at all.
The offer and sale of the Notes and the related guarantees have not been and will not be registered under the Securities Act or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act.
More on Colorado Desk
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the Notes or any other security, and shall not constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum.
The Company also announced today that it has delivered a conditional notice of redemption (the "Redemption Notice") calling for the redemption, on September 2, 2021 (the "Redemption Date"), of all of the outstanding 2025 Senior Notes at a redemption price equal to 102.938% of the principal amount of the 2025 Senior Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date. The Company's obligation to redeem the 2025 Senior Notes is conditioned upon the prior consummation of the Offering and the issuance of the Notes on or prior to the Redemption Date. The Company will publicly announce and notify the holders of, and the trustee for, the 2025 Senior Notes if the condition is not satisfied or waived prior to the Redemption Date, whereupon the Redemption will be revoked and the 2025 Senior Notes will remain outstanding. U.S. Bank National Association is the trustee for the 2025 Senior Notes and is serving as the paying agent for the Redemption.
The Redemption of the 2025 Senior Notes is being made solely pursuant to the Redemption Notice, and this press release does not constitute an offer to purchase or redeem, or a solicitation of an offer to sell, the 2025 Senior Notes.
About Century Communities
Century Communities, Inc. (NYSE: CCS) is a top 10 national homebuilder. Offering new homes under the Century Communities and Century Complete brands, Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Colorado-based company operates in 17 states and 30 markets across the United States, and offers title, insurance and lending services in select markets through its Parkway Title, IHL Home Insurance Agency, and Inspire Home Loan subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.
More on Colorado Desk
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, and such statements should not be interpreted to be guarantees of future performance or results. Forward-looking statements are based on our current beliefs or expectations with respect to future events, and are subject to assumptions and unknown risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the beliefs or expectations expressed in or suggested by the forward-looking statements. Forward-looking statements in this press release include statements relating to, among other things, statements about the intended use of proceeds or other aspects of the Offering of the Notes and the Redemption of the 2025 Senior Notes. The following factors, among others, could cause actual results to differ materially from those expressed in the forward-looking statements: adverse changes in general economic conditions, availability of financing, and the other factors included in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law.
The terms and timing of pricing of the Notes are subject to market conditions and other factors. The Notes are expected to be guaranteed on an unsecured senior basis by certain of the Company's current and future subsidiaries, including substantially all of its domestic wholly-owned subsidiaries.
The Company intends to use the net proceeds from the Offering, plus cash on hand, to redeem (the "Redemption") all $400.0 million aggregate principal amount of the Company's 5.875% Senior Notes due 2025 outstanding (the "2025 Senior Notes"). Consummation of the Offering of the Notes and the Redemption of the 2025 Senior Notes are subject to market and other conditions, and there can be no assurance that the Company will be able to successfully complete these transactions on the terms described above, or at all.
The offer and sale of the Notes and the related guarantees have not been and will not be registered under the Securities Act or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act.
More on Colorado Desk
- Bookmakers Review Launches Betting Insights on NBC's "The Voice: Battle of Champions"
- Indian Peaks Veterinary Hospital Enhances Pet Surgery Services for Boulder's Pet Owners
- Coming Up this Weekend on CNBC Mike Milligan Joins Tom Hegna on "Financial Freedom with Tom Hegna"
- UK Website Launches "Toy Time Machine" — Find Your Childhood Christmas Toy in One Click
- Colorado: Gov. Polis, AG Weiser Urge Supreme Court to Reject Nebraska Case on South Platte River
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the Notes or any other security, and shall not constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum.
The Company also announced today that it has delivered a conditional notice of redemption (the "Redemption Notice") calling for the redemption, on September 2, 2021 (the "Redemption Date"), of all of the outstanding 2025 Senior Notes at a redemption price equal to 102.938% of the principal amount of the 2025 Senior Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date. The Company's obligation to redeem the 2025 Senior Notes is conditioned upon the prior consummation of the Offering and the issuance of the Notes on or prior to the Redemption Date. The Company will publicly announce and notify the holders of, and the trustee for, the 2025 Senior Notes if the condition is not satisfied or waived prior to the Redemption Date, whereupon the Redemption will be revoked and the 2025 Senior Notes will remain outstanding. U.S. Bank National Association is the trustee for the 2025 Senior Notes and is serving as the paying agent for the Redemption.
The Redemption of the 2025 Senior Notes is being made solely pursuant to the Redemption Notice, and this press release does not constitute an offer to purchase or redeem, or a solicitation of an offer to sell, the 2025 Senior Notes.
About Century Communities
Century Communities, Inc. (NYSE: CCS) is a top 10 national homebuilder. Offering new homes under the Century Communities and Century Complete brands, Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Colorado-based company operates in 17 states and 30 markets across the United States, and offers title, insurance and lending services in select markets through its Parkway Title, IHL Home Insurance Agency, and Inspire Home Loan subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.
More on Colorado Desk
- Colorado: Governor Polis and Lieutenant Governor Primavera Help Launch Governors Public Health Alliance to Strengthen Preparedness, Affordability, and Health Innovation
- $73.6M Pipeline, $10M Crypto Play & Legal Firepower: Why Investors Are Watching Cycurion (N A S D A Q: CYCU) Like a Hawk
- Grammy award-winning Cuban-Canadian artist Alex Cuba releases his 11th studio album, "Indole"
- Thread Advisory Group Launches to Help Retailers Turn Strategy Into Lasting Results
- QView Medical and Eve Wellness Announce Partnership to Advance Direct-to-Consumer Breast Cancer Screening With FDA-Approved AI
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, and such statements should not be interpreted to be guarantees of future performance or results. Forward-looking statements are based on our current beliefs or expectations with respect to future events, and are subject to assumptions and unknown risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the beliefs or expectations expressed in or suggested by the forward-looking statements. Forward-looking statements in this press release include statements relating to, among other things, statements about the intended use of proceeds or other aspects of the Offering of the Notes and the Redemption of the 2025 Senior Notes. The following factors, among others, could cause actual results to differ materially from those expressed in the forward-looking statements: adverse changes in general economic conditions, availability of financing, and the other factors included in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law.
Filed Under: Business
0 Comments
Latest on Colorado Desk
- Christy Sports Makes Snowsports More Accessible for Families to Get Outside Together
- MainConcept Completes Management Buyout to Become Independent Company
- LIB Industry Expands Full-Series Salt Spray Corrosion Test Chambers to Meet Global Testing Standards
- The Easy Way to Collect Every Wedding Photo from Your Guests - No App Needed
- Zyplr Launches in Colorado, Ending High Real Estate Commissions
- REPRESENTATION REVOLUTION: FLM TV Network Launches as America's First Truly Diverse Broadcast Network
- Same Great Mulled Wine, Fresh New Look: Evergood Wines Unveils Updated Heart Warmer Label for 2025
- Colorado: Lt. Governor Primavera Speaks at Greeley Chapter Symposium of the Federation of the Blind
- MetroWest wellness: Holliston farmhouse spa unveils Centerpoint Studio
- Colorado Filmmakers' Short Doc GRINTA! Selected for Prestigious BANFF Mountain Film Festiva
- Cancer Survivor Roslyn Franken Marks 30-Year Milestone with Empowering Gift for Women Survivors
- Colorado Springs: Podcast: 'Tis the season for the Pikes Peak Highway
- Featured Course - Photographic Evidence in Discovery
- Are Seasonal Workers in Colorado Covered by Workers' Comp? Yes—But Know Your Rights
- ENERGY33 Successfully Completes Second Engineering & Construction Management Contract for a 27MW STX Cogeneration Power Plant in Honduras
- Florida International University: "Psychiatry: An Industry of Death" Traveling Exhibit Educates Students on Mental Health Abuse
- CCHR: VA's Psychiatric Treatments Betray Veterans, Fuel Suicide and Death
- Integris Composites Named Armor Partner for U.S. Army's XM30 Combat Vehicle
- Governor Polis: Colorado Welcomes the Long-Awaited Return of the Hostages to their Homes and Families, and Cease-fire that Will Hopefully Build Towards Lasting Peace in the Middle East
- Jaipur Countryside, 4-Star Comfort: $199 for Two— All-Inclusive with Meals + Transfers at Heritage Hotel Savista