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William Lyon prices $350M of senior notes

William Lyon Homes priced a private offering of $350.0 million worth of 6.00% senior notes due Sept. 1, 2023, through its William Lyon Homes Inc. unit.

The Calif.-based homebuilder plans to use the proceeds to partially fund the acquisition of another homebuilder, RSI Communities LLC, and three related properties. The closing of the purchase of RSI Communities is expected to take place in the first quarter of fiscal 2018.

The company added that part of the proceeds will be used to repay its William Lyon Homes Inc. subsidiary's $150.0 million of 5.75% senior notes due 2019.

The offering is expected to close March 9, the company said in a release.