Beazer Homes Announces Early Results of Tender Offer and Consent Solicitation for 8.75% Senior Notes due 2022
As of the consent deadline, which was
As a result of obtaining consents from more than 50% of the outstanding Notes, the Company, the subsidiary guarantors and the trustee are entering into a supplemental indenture (the “Supplemental Indenture”) to the indenture governing the Notes giving effect to the Amendments. The Supplemental Indenture will become effective immediately upon acceptance for purchase by the Company of the Notes validly tendered and not withdrawn prior to the Consent Deadline, and will be binding on all holders of the Notes, even those who did not deliver a consent at or prior to the Consent Deadline.
The Offer and Consent Solicitation is subject to the satisfaction or waiver of certain conditions as described in the Offer to Purchase, including (i) the receipt of at least
Subject to the terms and conditions of the Offer and Consent Solicitation being satisfied or waived, holders who validly tendered and did not withdraw Notes prior to the Consent Deadline will, if their Notes are accepted for purchase, receive the “Total Consideration” equal to
The Withdrawal Deadline has passed. Accordingly, any validly tendered Notes and delivered consents may no longer be withdrawn or revoked.
The Company currently intends to redeem, as soon as practical after the Early Settlement Date, any Notes that remain outstanding following the Offer and Consent Solicitation in accordance with the terms of the indenture governing the Notes. However, there is no requirement in the indenture or otherwise that the Company redeem any Notes, and unless redeemed, such Notes will continue to remain outstanding.
The complete terms and conditions of the Offer and Consent Solicitation are set forth in the Offer to Purchase that has been sent to holders of the Notes. Holders are urged to read the Offer to Purchase carefully.
The Company has engaged
This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to purchase with respect to any of the Notes. The Offer and Consent Solicitation is being made pursuant to the tender offer documents, including the Offer to Purchase that the Company has distributed to holders of the Notes. The Offer and Consent Solicitation is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities or other laws of such jurisdiction. None of the Company, the Dealer Manager and Solicitation Agent, the Tender and Information Agent or their respective affiliates is making any recommendation as to whether or not holders should tender all or any portion of their Notes in the Offer and Consent Solicitation.
Forward Looking Statements
Statements contained in this release that state the Company’s or management’s intentions, expectations or predictions of the future are forward-looking statements. Specifically, the Company cannot assure you that the Offer and Consent Solicitation described above will be consummated on the terms currently contemplated, if at all. The forward-looking statements involve risks and uncertainties and actual results may differ materially from those projected or implied. The Company disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future events or otherwise.
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Source:
Beazer Homes USA, Inc.
David I. Goldberg
Vice President of Treasury and Investor Relations
770-829-3700
investor.relations@beazer.com