TAYLOR MORRISON ANNOUNCES EXPIRATION AND RESULTS OF CASH TENDER OFFER FOR ANY AND ALL OUTSTANDING 5.875% SENIOR NOTES DUE 2027
Rhea-AI Summary
Taylor Morrison (NYSE: TMHC) announced the expiration and results of a cash tender offer for its 5.875% senior notes due 2027. The offer expired on Nov 7, 2025 with $479,155,000 tendered, equal to 95.83% of the $500,000,000 outstanding principal, at a purchase price of $1,023.07 per $1,000 principal. The offeror expects to accept all valid tenders and pay for purchased notes on Nov 10, 2025, funded in part by issuance of $525.0 million of 5.750% senior notes due 2032 expected to close on Nov 10, 2025. Remaining notes will be subject to a conditional redemption on or around Dec 2, 2025.
Positive
- $479,155,000 tendered (95.83% of $500M)
- Purchase price at a premium: $1,023.07 per $1,000
- Issued $525.0M new 5.750% senior notes due 2032 to fund purchase
- Expected payment and closing on Nov 10, 2025
Negative
- Remaining outstanding notes: $20,845,000 (~4.17%) to redeem
- New debt carries 5.750% coupon through 2032
- Conditional redemption may require make-whole redemption price
News Market Reaction – TMHC
In the Nov 10 session, TMHC gained 0.34%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
According to D.F. King & Co., Inc., the tender and information agent for the Offer, valid tenders had been received at the expiration of the Offer in the amount and percentage set forth in the table below.
|
Issuer |
Title of |
CUSIP |
Principal |
Principal |
Percentage of |
Purchase |
|
Taylor Morrison |
|
87724RAA0 |
|
|
95.83 %(3) |
|
|
___________________________________ |
|
|
(1) |
The Notes are callable at a redemption price of |
|
(2) |
No representation is made as to the correctness or accuracy of the CUSIP numbers listed in this press release or printed on the Notes. They are provided solely for the convenience of holders of the Notes. |
|
(3) |
No principal amount of the Notes tendered remain subject to the guaranteed delivery procedures described in the offer to purchase and the related notice of guaranteed delivery. |
The Offeror expects to accept for purchase all Notes validly tendered and not validly withdrawn as of the Expiration Time and expects to make payment for any such Notes on November 10, 2025.
The Offeror will apply a portion of the proceeds from the issuance of
The Offer was made pursuant to the terms and subject to the conditions set forth in the offer to purchase and the related notice of guaranteed delivery, each dated as of November 3, 2025.
Following the settlement of the Offer, the Offeror intends to redeem any and all outstanding Notes that are not purchased in the Offer. Concurrently with the launch of the Offer, the Offeror issued a conditional notice of redemption to redeem any Notes that remain outstanding following the Offer, on or around December 2, 2025 (as such date may be extended to satisfy the condition to such redemption which is, receipt of funds from a senior notes offering in an amount, together with cash on hand, sufficient to redeem or repurchase all of the Notes, the Offeror's
J.P. Morgan Securities LLC has served as the exclusive dealer manager for the Offer and D.F. King & Co., Inc. has served as the tender agent and information agent for the Offer. Questions regarding the terms of the Offer may be directed to J.P. Morgan Securities LLC by calling (866) 834-4666 (toll-free) or (212) 834-7489 (collect).
This press release is neither an offer to purchase nor a solicitation of an offer to sell any securities. In addition, this press release does not constitute a notice of redemption under the indenture governing the Notes.
About Taylor Morrison
Headquartered in
Forward-Looking Statements
This press release includes "forward-looking statements" including statements regarding the expected terms and timing of the senior notes offering and the Offer and the intended use of proceeds from the senior notes offering. These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those expressed in, or implied by, these statements. You can identify these statements by the fact that they do not relate to matters of a strictly factual or historical nature and generally discuss or relate to forecasts, estimates or other expectations regarding future events. Generally, the words "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "may," "will," "can," "could," "might," "should" and similar expressions identify forward-looking statements, including statements related to expected financial, operating and performance results, planned transactions, planned objectives of management, future developments or conditions in the industries in which we participate and other trends, developments and uncertainties that may affect TMHC's business in the future. A detailed discussion of such risks and uncertainties is included in TMHC's Form 10-K, on file with the Securities and Exchange Commission, in the section titled "Risk Factors," as updated in our subsequent reports filed with the Securities and Exchange Commission. Any forward-looking statement made in this press release is based only on currently available information and speaks only as of the date on which it is made. TMHC undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
For information:
CONTACT:
Mackenzie Aron, VP Investor Relations
(407) 906-6262
investor@taylormorrison.com
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SOURCE Taylor Morrison Home Corp.