debt
confidence high
sentiment neutral
materiality 0.55
M/I Homes prices $300M 3.950% senior notes due 2030; to redeem $250M 5.625% notes
M/I HOMES, INC.
- Priced $300M aggregate principal of 3.950% senior notes at 100% of par, maturing Feb 15, 2030.
- Net proceeds to redeem all $250M outstanding 5.625% senior notes due 2025 on or about Aug 24, 2021.
- Balance of proceeds used for general corporate purposes; closing expected Aug 23, 2021.
- Offered under Rule 144A/Regulation S; not registered under Securities Act.
- Refinancing replaces higher-coupon debt with lower-coupon notes, reducing annual interest expense.