TRI Pointe Group Inc. proposed a public offering of $250 million worth of senior notes.
The company said it expects the notes to have a 10-year maturity. The interest rate, maturity date, offering size and other terms will be determined at the time of pricing by the company and underwriters.
The notes will be guaranteed by all of the company's wholly owned domestic subsidiaries.
The company plans to use some of the net proceeds from the offering to repay around $200 million of borrowings under its $625 million unsecured revolving credit facility, which matures May 18, 2019. The remainder will be used for general corporate purposes.
The offering is subject to market and other conditions.
JP Morgan, Citigroup, Credit Suisse, Wells Fargo Securities and US Bancorp are the joint book-running managers for the proposed offering, while Fifth Third Securities and Zelman Partners LLC are the co-managers.