Millrose Properties closes $1.25B offering of 6.375% Senior Notes due 2030

Millrose Properties, Inc.

Issued $1.25B aggregate principal of 6.375% Senior Notes due August 1, 2030.
Interest payable semi-annually on Feb 15 and Aug 15, beginning Feb 15, 2026.
Notes are senior unsecured obligations, guaranteed by subsidiary Millrose Properties SPE LLC.
Redemption options: on/after Aug 1, 2027 at specified prices; prior with make-whole premium.
Change of control triggers repurchase offer at 101% of principal plus accrued interest.

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