Beazer Homes USA Inc., the builder that’s piled up $1.8 billion of losses since the collapse of the U.S. housing market, is buying time until the U.S. economy recovers by replenishing its capital with stock and bond sales.
Beazer sold $300 million of secured debt, raised about $160 million selling stock and hybrid securities and said it would buy back $250 million of bonds last week. The Atlanta-based company’s $300 million of 9.125 percent notes due June 2018 have returned 19 percent in the past six weeks and now trade at more than 97 cents on the dollar, according to data compiled by Bloomberg.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
