ARLINGTON, Va., June 6, 2017 /PRNewswire/ -- CalAtlantic
Group, Inc. (NYSE: CAA) today announced the proposed public
offering by the Company of $300
million aggregate principal amount of a new series of its
senior notes. Citigroup Global Markets Inc., J.P. Morgan
Securities LLC, Mizuho Securities USA LLC, Credit Suisse Securities
(USA) LLC, BofA Merrill Lynch and
Wells Fargo Securities, LLC. are acting as joint bookrunning
managers for the proposed notes offering.
The Company expects that the notes will have a ten-year
maturity. However, the interest rate, maturity date and other terms
of the notes will be determined at the time of pricing of the
offering by the Company and the underwriters. The notes will be
guaranteed on a senior unsecured basis by the Company's
subsidiaries that guarantee the Company's outstanding notes.
The Company intends to use the net proceeds of the notes
offering for general corporate purposes, which may include
acquisition of land or other home building companies, land
development, home construction, repurchases of the Company's common
stock and repayment or repurchases of the Company's debt, including
the repayment or repurchase of the Company's 1.25% Senior
Convertible Notes due August 2032.
The Company has an effective registration statement (including a
prospectus and a preliminary prospectus supplement for the offering
to which this communication relates) on file with the Securities
and Exchange Commission (the "SEC"). Before you invest, you
should read the prospectus in that registration statement
(including the preliminary prospectus supplement for the offering
to which this communication relates) and other documents the
Company has filed and will file with the SEC for more complete
information about the Company and the proposed offering. You
may obtain these documents for free by visiting EDGAR on the SEC
web site at www.sec.gov. Alternatively, copies of the
prospectus supplement and related base prospectus related to this
offering may be obtained from Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 or by telephone
at 1-800-831-9146.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities, nor shall there be any
sale of such securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction.
About CalAtlantic Group, Inc.
CalAtlantic Group, Inc. (NYSE: CAA) offers homes in 41
Metropolitan Statistical Areas spanning 17 states.
This news release contains forward-looking statements.
These statements include but are not limited to statements
regarding the proposed offering, the expected term and the intended
use of the net proceeds from the offering. Forward-looking
statements are based on our current expectations or beliefs
regarding future events or circumstances, and you should not place
undue reliance on these statements. Such statements involve
known and unknown risks, uncertainties, assumptions and other
factors many of which are out of the Company's control and
difficult to forecast that may cause actual results to differ
materially from those that may be described or implied. The
Company cannot be certain that the offering will be completed on
the terms discussed above, or at all. For a discussion of
certain other risks, uncertainties and other factors affecting the
statements contained in this news release, see the Company's Annual
Report on Form 10-K for the year ended December 31, 2016 and subsequent Quarterly
Reports on Form 10-Q. Except as required by law,
the Company assumes no, and hereby disclaims any, obligation to
update any of the foregoing or any other forward-looking
statements. The Company nonetheless reserves the right to
make such updates from time to time by press release, periodic
report or other method of public disclosure without the need for
specific reference to this news release. No such update shall
be deemed to indicate that other statements not addressed by such
update remain correct or create an obligationto provide any
other updates.
Contact:
Jeff McCall, EVP & CFO (240)
532-3888, jeff.mccall@calatl.com
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SOURCE CalAtlantic Group, Inc.