Century Communities, Inc. Enters into A Purchase Agreement with BofA Securities, Inc. with Respect to the Sale and Issuance by the Company of $500 Million Aggregate Principal Amount of Its 3.875% Senior Notes Due 2029
August 05, 2021 at 04:39 pm EDT
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On August 3, 2021, Century Communities, Inc. (the Company") and its subsidiary guarantors party thereto (the Guarantors") entered into a Purchase Agreement (the Purchase Agreement") with BofA Securities, Inc., as
representative of the several initial purchasers named in Schedule A thereto (the Initial Purchasers"), with respect to the sale and issuance by the Company of $500 million aggregate principal amount of its 3.875% Senior Notes due 2029 (the Notes") in a private offering (the Offering"), exempt from the registration requirements of the Securities Act of 1933, as amended (the Securities Act"), to qualified institutional buyers in reliance on Rule 144A under the Securities Act, and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. The Offering of the Notes is expected to close on August 23, 2021, subject to customary closing conditions. The Company intends to use a portion of the net proceeds from the Offering to finance the aggregate redemption price to be paid in connection with the Company's previously announced redemption (the ''Redemption'') of all $400 million aggregate principal amount of its 5.875% Senior Notes due 2025 outstanding. Following the Redemption, the Company intends to use the remaining net proceeds from the Offering for general corporate purposes.
Century Communities, Inc. is engaged in the development, design, construction, marketing and sale of single-family attached and detached homes. The Company is also involved in the entitlement and development of the underlying land. Its homebuilding operations are organized into the five segments: West, Mountain, Texas, Southeast, and Century Complete. The Company builds and sells under its Century Communities and Century Complete brands. Its Century Communities brand offers a range of buyer profiles including entry-level, first and second time move-up, and lifestyle homebuyers, and provides its homebuyers with the ability to personalize their homes through certain option and upgrade selections. Its Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the Internet. It also operates in 18 states and over 45 markets across the United States and offers title, insurance and lending services in select markets.
Century Communities, Inc. Enters into A Purchase Agreement with BofA Securities, Inc. with Respect to the Sale and Issuance by the Company of $500 Million Aggregate Principal Amount of Its 3.875% Senior Notes Due 2029
CENTURY COMMUNITIES, INC. 
