debt
confidence high
sentiment neutral
materiality 0.55
Green Brick Partners issues $100M senior unsecured notes at 3.25% due 2029
Green Brick Partners, Inc.
- $100M aggregate principal, 3.25% fixed rate, matures December 28, 2029; interest payable quarterly.
- Proceeds to repay revolving credit borrowings, pay fees/expenses, and for general corporate purposes.
- Notes are senior unsecured obligations guaranteed by certain subsidiaries; rank equal with existing senior unsecured debt.
- Issued via private placement to institutional investors under Section 4(a)(2); investment grade rating obtained.
- Covenants include max leverage ratio, min interest coverage ratio, and min consolidated tangible net worth.