debt
confidence high
sentiment positive
materiality 0.60
M/I Homes issues $300M 3.95% senior notes due 2030, redeems $250M 5.625% notes due 2025
M/I HOMES, INC.
- Issued $300M of 3.950% Senior Notes due Feb 15, 2030; interest payable semiannually; fully and unconditionally guaranteed by certain subsidiaries.
- Redeemed all $250M of 5.625% Senior Notes due 2025 at $1,028.13 per $1,000 principal plus accrued interest, using net proceeds from the new notes.
- Balance of net proceeds from the offering used for general corporate purposes.
- Registration rights agreement filed; requires exchange offer or shelf registration within 240 days or interest rate increases by 0.25% per 90-day period (max 1.00%).