AV Homes Announces Proposed Offering of $300 Million in Senior Notes
2017年5月1日 - 7:25PM
AV Homes, Inc. (NASDAQ:AVHI) (“AV Homes” or the “Company”)
announced today that it intends to offer, subject to market and
certain other conditions, $300 million in aggregate principal
amount of senior notes due 2022 (the “notes”) in a private offering
that is exempt from registration under the Securities Act of 1933,
as amended (the “Securities Act”). The notes will be senior
unsecured obligations of the Company.
The Company intends to use the proceeds from this offering (i)
to fund the repurchase or redemption of any and all of the $200
million in outstanding 8.50% Senior Notes due 2019, (ii) to pay
amounts currently outstanding under the Company’s revolving credit
facility, totaling approximately $30 million and (iii) for general
corporate purposes, which may include the financing of
acquisitions.
The notes and related guarantees will be offered and sold to
qualified institutional buyers in reliance on the exemption from
registration set forth in Rule 144A under the Securities Act and
outside the United States to non-U.S. persons in reliance on the
exemption from registration set forth in Regulation S under the
Securities Act. The notes and the related guarantees have not been
registered under the Securities Act or the securities laws of any
other jurisdiction and may not be offered or sold in the United
States absent registration or an applicable exemption from such
registration requirements.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities, nor shall there be
any sales of the notes in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
This press release is being issued pursuant to, and in accordance
with, Rule 135c under the Securities Act.
About AV Homes
AV Homes is a homebuilder engaged in the business of
homebuilding and community development in Florida, the Carolinas
and Arizona. Its principal operations are conducted near
Jacksonville and Orlando, Florida, Phoenix, Arizona and Raleigh and
Charlotte, North Carolina. The Company focuses on the development
and construction of (i) primary residential communities, which
serve first time and move-up buyers, and (ii) active adult
communities, which are age-restricted to the age 55 and over active
adult demographic. AV Homes common shares trade on NASDAQ under the
symbol AVHI.
This news release contains "forward-looking statements" within
the meaning of the U.S. federal securities laws, which statements
may include information regarding the plans, intentions,
expectations, future financial performance, or future operating
performance of AV Homes, Inc. Forward-looking statements are based
on the expectations, estimates, or projections of management as of
the date of this news release. Although our management believes
these expectations, estimates, or projections to be reasonable as
of the date of this news release, forward-looking statements are
inherently subject to significant business risks, economic and
competitive uncertainties, or other contingencies which could cause
our actual results or performance to differ materially from what
may be expressed or implied in the forward-looking statements.
Important factors that could cause our actual results or
performance to differ materially from our forward-looking
statements include those set forth in the "Risk Factors" section of
our Annual Report on Form 10-K for the year ended December 31, 2016
and in our other filings with the Securities and Exchange
Commission, which filings are available on www.sec.gov. AV Homes
disclaims any intention or obligation to update or revise any
forward-looking statements to reflect subsequent events and
circumstances, except to the extent required by applicable law.
Investor Contact:
Mike Burnett
EVP, Chief Financial Officer
480-214-7408
m.burnett@avhomesinc.com
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