M.D.C. Holdings Inc. is adding $150 million to its 6.000% senior notes due Jan. 15, 2043, with the new notes priced at 97.000% of par, plus interest.
The new 6.000% senior notes will be consolidated with the company's previous offering in the same series amounting to $250 million in January 2013 and $100 million in May 2013. The offering, expected to close Oct. 16, will bring the total outstanding principal amount of the note series to $500 million.
Proceeds from the additional notes will be used for the company's general corporate expenses, which may include debt repayment, according to a news release.
Citigroup Global Markets Inc. is the underwriter of the offering.