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CalAtlantic closes $350M senior notes offering

CalAtlantic Group Inc. closed its $350 million offering of senior notes due June 15, 2027.

The notes carry an annual interest rate of 5.000%, payable semiannually in arrears every June 15 and Dec. 15, starting Dec. 15.

The company previously said it intends to use the proceeds for land or other homebuilder purchases, development, construction, common share buybacks and debt repayment or repurchases, among other general business purposes.