GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--
Century Communities, Inc. (NYSE:CCS) (the “Company”), a leading builder
of upscale single-family homes, townhomes and flats in select markets,
today announced that it intends to offer, subject to market and other
conditions, an additional $50 million of its 6.875% Senior Notes due
2022 (the "New Senior Notes") in an unregistered offering pursuant to
Rule 144A and Regulation S under the Securities Act of 1933, as amended
(the "Securities Act").
The New Senior Notes will be additional notes issued under the indenture
pursuant to which the Company's outstanding $200 million aggregate
principal amount of 6.875% Senior Notes due 2022 (the "Existing Senior
Notes") were issued. The Existing Senior Notes and the New Senior Notes
will have identical terms and will be treated as a single class under
the indenture.
The Company intends to use the net proceeds of this offering to repay
all outstanding indebtedness under its revolving credit facility, and
for the acquisition and development of land and, to the extent not used
for the acquisition and development of land, for general corporate
purposes.
The New Senior Notes will be offered and sold to qualified institutional
buyers pursuant to Rule 144A under the Securities Act, and outside the
United States to non-U.S. persons in compliance with Regulation S under
the Securities Act.
The New Senior Notes have not been registered under the Securities Act
or the securities laws of any jurisdiction. Unless they are registered,
the New Senior Notes may be offered only in transactions that are exempt
from registration under the Securities Act and the applicable securities
laws of any jurisdiction.
This press release does not constitute an offer to sell or a
solicitation of an offer to purchase the New Senior Notes or any other
securities, and shall not constitute an offer, solicitation or sale in
any state or jurisdiction in which such an offer, solicitation or sale
would be unlawful.
ABOUT CENTURY COMMUNITIES:
Founded in 2002, Colorado-based Century Communities is a builder of
single-family homes, townhomes and flats in select major metropolitan
markets in Colorado, Texas, Nevada, and Georgia. The Company offers a
wide variety of product lines and is engaged in all aspects of
homebuilding, including the acquisition, entitlement and development of
land and the construction, marketing and sale of homes. To learn more
about Century Communities please visit www.centurycommunities.com.
Century Communities, Inc.
David Messenger, 303-770-8300
Chief
Financial Officer
Source: Century Communities, Inc.