Meritage Homes issues $500M 5.65% Senior Notes due 2035 for general corporate purposes

Meritage Homes CORP

Net proceeds of $493.4M after underwriting discount; interest payable semi-annually at 5.65%.
Notes mature March 15, 2035; are unsecured senior obligations guaranteed by substantially all subsidiaries.
Optional redemption: before Dec 15, 2034 at Treasury rate + 25 bps; thereafter at par.
Upon Change of Control and Rating Decline, holders may require repurchase at 101% plus accrued interest.
Indenture includes customary restrictive covenants and events of default.

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