CalAtlantic Group (CAA -1.4%) proposed public offering of $300M aggregate principal amount of a new series of unsecured senior notes due 2027.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Credit Suisse Securities LLC, BofA Merrill Lynch and Wells Fargo Securities, LLC. are acting as joint bookrunning managers for the proposed notes offering.
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.
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