trending Market Intelligence /marketintelligence/en/news-insights/trending/_S_QY-5w2eKbBaF9N7r3Yw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Taylor Morrison launches exchange offers for William Lyon notes

Credit Analytics Case Study Poundworld Retail Ltd


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Real Estate

Real Estate Solutions Overview

Taylor Morrison launches exchange offers for William Lyon notes

Taylor Morrison Home Corp. initiated offers to exchange certain series of notes issued by William Lyon Homes unit William Lyon Homes Inc. for up to $1.09 billion of newly issued Taylor Morrison Communities Inc. notes.

The exchange offers are part of Taylor Morrison's pending acquisiton of William Lyon Homes in a $2.4 billion cash-and-stock deal, including debt.

The series of William Lyon notes subject to the offers are $350.0 million of 6.00% senior notes due Sept. 1, 2023; approximately $436.9 million of 5.875% senior notes due Jan. 31, 2025; and $300.0 million of 6.625% senior notes due July 15, 2027.

Eligible holders must validly tender their William Lyon notes at or before 5 p.m. ET on Dec. 18, unless extended or terminated, in order to receive an additional $2.50 in cash for each $1,000 principal amount of the notes.

The exchange offers are expected to expire at 12:01 a.m. ET on Jan. 6, 2020, unless terminated. The settlement date for the offers will coincide with the completion of the merger, expected in the late first quarter or early second quarter of 2020.

Taylor Morrison Communities is soliciting consents to adopt certain proposed amendments to substantially eliminate all of the covenants in the William Lyon indentures governing the notes.