Taylor Morrison Home Corp. subsidiary Taylor Morrison Communities Inc. priced a $500.0 million offering of senior notes due 2027.

The offering, set to close June 5, was upsized from an initial aggregate principal amount of $475.0 million.

The notes will carry an annual interest rate of 5.875%, payable semiannually in cash every June 15 and Dec. 15, starting Dec. 15.

Taylor Morrison Communities will use the net proceeds, along with cash on hand, to redeem its 5.25% senior notes due 2021.

The notes will be guaranteed on a senior unsecured basis by the same subsidiaries of Taylor Morrison Home that guarantee or are co-issuers of Taylor Morrison Communities' 5.875% senior notes due 2023 and 5.625% senior notes due 2024.