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Taylor Morrison Completes Offering of $550 Million High Yield Senior Notes
Paul, Weiss advised Taylor Morrison, a leading North American homebuilder and portfolio company of TPG, Oaktree and JH Investments, in a Rule 144A Regulation S offering of $550 million 7.750% senior notes due 2020. Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc. acted as joint bookrunning managers of the offering. The proceeds of the notes were used to repay existing loans from the sponsor group and for general corporate purposes. Concurrently with the offering, Taylor Morrison amended and restated its $75 million Revolving Credit Facility.
The Paul, Weiss team advising Taylor Morrison included, among others, corporate partners Edwin S. Maynard and Thomas V. de la Bastide III; employee benefits counsel Erin Murphy and environmental counsel William J. O'Brien.