M/I HOMES, INC. (NYSE:MHO) Files An 8-K Other EventsItem 8.01Other Events.
On July 31, 2017, M/I Homes, Inc. (the “Company”) issued a press release announcing the pricing of its offering of $250 million aggregate principal amount of 5.625% senior notes due 2025 (the “New Senior Notes”). The New Senior Notes will mature on August 1, 2025. The New Senior Notes will be offered only to persons reasonably believed to be qualified institutional buyers in the United States in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain investors in compliance with Regulation S under the Securities Act.
The Company intends to use a portion of the net proceeds from the offering of the New Senior Notes to repay all outstanding borrowings under its $475 million unsecured revolving credit facility and to use the balance of such net proceeds for general corporate purposes, which may include future acquisitions of land, land development, home construction, capital expenditures, increasing its working capital, corporate acquisitions, repayment of other indebtedness, redemption of its 9.75% Series A Preferred Shares and other related purposes. The sale of the New Senior Notes is subject to customary closing conditions and is expected to close on August 3, 2017.
A copy of the press release is attached hereto as Exhibit 99.1.
This report is neither an offer to sell nor the solicitation of an offer to buy any of the New Senior Notes.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits.
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Exhibit No. |
Description of Exhibit |
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99.1 |
Press release dated July 31, 2017.
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M I HOMES INC ExhibitEX-99.1 2 exhibit991pricingofseniorn.htm EXHIBIT 99.1 PRICING OF SENIOR NOTES 7-31-17 Exhibit Exhibit 99.1M/I Homes Announces Pricing of $250 Million of Senior Notes due 2025 Columbus,…To view the full exhibit click here
About M/I HOMES, INC. (NYSE:MHO)
M/I Homes, Inc. is a builder of single-family homes. The Company consists of two distinct operations: homebuilding and financial services. The Company’s homebuilding operations are aggregated for reporting purposes into three reporting segments: the Midwest, Mid-Atlantic and Southern regions. The Company’s financial services operations support its homebuilding operations by providing mortgage loans and title services to the customers of its homebuilding operations and is reported as its own segment. The Company conducts mortgage financing activities through its subsidiary, M/I Financial, LLC (M/I Financial), which originates mortgage loans primarily for purchasers of the Company’s homes. The Company and M/I Financial also operate majority-owned subsidiaries that provide title services to purchasers of the Company’s homes. The Company markets and sells homes primarily under the M/I Homes and Showcase Collection (exclusively by M/I Homes) brands.
