|
M.D.C. Holdings Announces Offering of $250 Million Medium
Term Senior Notes
DENVER, Dec 7, 2004 /PRNewswire-FirstCall via COMTEX/ -- M.D.C. Holdings,
Inc. (MDC) today announced the pricing of a public offering of $250 million
principal amount of 5.375% medium term senior notes due December 2014 (the
"2014 Notes"). The 2014 Notes will be general unsecured obligations of MDC
and will rank equally and ratably with its other general unsecured and
unsubordinated indebtedness. In addition, the 2014 Notes will be fully
guaranteed on an unsecured basis, jointly and severally, by most of the
Company's homebuilding subsidiaries. The 2014 Notes will be issued under the
terms outlined in the Company's medium term notes program, under which the
Company may, from time to time, issue senior or subordinated notes up to an
aggregate $500 million principal amount. MDC will use the proceeds of the
offering for general corporate purposes, including the repayment of existing
indebtedness under its homebuilding line of credit.
MDC, whose subsidiaries build homes under the name "Richmond American
Homes," is one of the largest homebuilders in the United States. The Company
also provides mortgage financing, primarily for MDC's homebuyers, through
its wholly owned subsidiary HomeAmerican Mortgage Corporation. MDC is a
major regional homebuilder with a significant presence in some of the
country's best housing markets. The Company is the largest homebuilder in
Colorado; among the top five homebuilders in Northern Virginia, suburban
Maryland, Phoenix, Tucson, Las Vegas and Salt Lake City; and among the top
ten homebuilders in Jacksonville, Northern California and Southern
California. MDC also has established operating divisions in Dallas/Fort
Worth, Houston, West Florida, Philadelphia/Delaware Valley and Chicago. For
more information about our Company, please visit
www.richmondamerican.com.
SOURCE M.D.C. Holdings, Inc
|
|
