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CalAtlantic Group plans $200M senior notes offering

CalAtlantic Group Inc. announced a proposed offering of $200 million aggregate principal amount of senior notes.

A portion of the proposed new notes will be additional notes to the company's outstanding 5.875% senior notes due 2024, and the other portion will be additional notes to its outstanding 5.25% senior notes due 2026.

The company plans to use the net proceeds from the notes offering to repay or repurchase its 8.4% senior notes due in May and for general corporate purposes including land acquisition and development, home construction, repurchasing its common stock and repaying its debt.

Mizuho Securities USA Inc. is the sole book-running manager for the offering.