William Lyon Homes Announces Registered Exchange Offer for 7.00% Senior Notes Due 2022
30 December 2014 - 8:05AM
Business Wire
William Lyon Homes, Inc. (the “Company”), a wholly owned
subsidiary of William Lyon Homes (NYSE:WLH), today announced that
it has commenced a registered exchange offer for the $300 million
aggregate principal amount of outstanding 7.00% Senior Notes due
2022 (the “Private Notes”) issued on August 11, 2014 in a private
placement that was exempt from the registration requirements of the
Securities Act of 1933, as amended (the “Securities Act”). Holders
of the Private Notes may exchange them for an equal principal
amount of newly issued 7.00% Senior Notes due 2022 (the “Exchange
Notes”) in an exchange offer that is registered under the
Securities Act pursuant to an effective registration statement on
Form S-4 filed with the U.S. Securities and Exchange Commission
(the “SEC”).
When it issued the Private Notes, the Company agreed to file
with the SEC a registration statement relating to the exchange
offer under which the Company would offer the Exchange Notes,
containing substantially identical terms to the Private Notes, in
exchange for Private Notes that are tendered by the holders of
those notes.
Private Notes not tendered for exchange in the exchange offer
will remain outstanding and continue to accrue interest, but will
not retain any rights under the registration rights agreement,
except in limited circumstances. The terms of the exchange offer
are contained in the exchange offer prospectus and related letter
of transmittal.
The exchange offer will expire at midnight, New York City time,
in the evening of January 27, 2015, unless extended or terminated.
Tenders of the Private Notes must be properly made before the
exchange offer expires. Private Notes tendered in the exchange
offer may be withdrawn at any time before the expiration time by
following the procedures set forth in the exchange offer
prospectus.
Documents describing the terms of the exchange offer, including
the prospectus and transmittal materials for making tenders, can be
obtained from the exchange agent, U.S. Bank National Association,
60 Livingston Avenue, St. Paul, MN, 55107, Attention: Specialized
Finance, (800) 934-6802.
This news release does not constitute an offer to sell any
securities or a solicitation of an offer to buy any securities.
The exchange offer will be made only by means of a written
prospectus and the related letter of transmittal.
About William Lyon Homes
William Lyon Homes is one of the largest Western U.S. regional
homebuilders. Headquartered in Newport Beach, California, the
Company is primarily engaged in the design, construction, marketing
and sale of single-family detached and attached homes in
California, Arizona, Nevada, Colorado, Washington and Oregon. Its
core markets include Orange County, Los Angeles, San Diego, the San
Francisco Bay Area, Phoenix, Las Vegas, Denver, Seattle and
Portland. The Company has a distinguished legacy of more than 58
years of homebuilding operations, over which time it has sold in
excess of 93,000 homes. The Company markets and sells its homes
under the William Lyon Homes brand in all of its markets except for
Colorado, where the Company operates under the Village Homes brand,
and Washington and Oregon, where the Company operates under the
Polygon Northwest brand.
Financial Profiles, Inc.Larry Clark, (310)
622-8223WLH@finprofiles.comorLisa Mueller, (310)
622-8231WLH@finprofiles.com
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