Meritage Homes Corp. netted proceeds of $296 million following the conclusion of a private placement of $300 million worth of 5.125% senior unsecured notes due June 6, 2027.

The company intends to use the proceeds to repay outstanding debt under its unsecured revolving credit facility, and for general corporate purposes, which may include the repurchase, tender for or redemption of its 1.875% senior unsecured convertible notes due 2032, among other uses.