Tri Pointe Homes, Inc. operates as a U.S. residential homebuilder that designs, constructs and sells attached and detached single-family homes. News about TPH commonly covers quarterly operating and financial results, community openings, regional homebuilding milestones, and product concepts such as LivingSmart® and LivingWell™.
The company’s updates also reflect its national platform and local-market divisions, including activity in communities such as Snoqualmie Ridge and Holladay Hills. Recurring coverage includes home sales, new-home design initiatives, shareholder voting matters, capital-structure disclosures, financial services tied to mortgage, title, escrow and insurance operations, and corporate-status developments.
TRI Pointe Group (NYSE: TPH) announced a successful pricing of its public offering of $350 million in senior notes, increasing from the initial $300 million proposal. The notes will carry a 5.700% interest rate, maturing on June 15, 2028. Proceeds will be used for a tender offer to repurchase outstanding 4.875% senior notes due 2021 and for general corporate purposes. The closing date is set for June 10, 2020, pending customary conditions.
TRI Pointe Group (TPH) announced a cash tender offer for its 4.875% Senior Notes due 2021, totaling $300 million. The offer commences on June 3, 2020, and will expire on June 9, 2020, unless extended. Holders can withdraw their tendered notes until the withdrawal deadline on June 9. The purpose of the offer is to refinance a portion of the company’s long-term debt due in 2021. Payment will occur on June 10, 2020, with guaranteed delivery options available until June 11. The company also plans to issue new securities to fund this initiative.
On June 3, 2020, TRI Pointe Group, Inc. (NYSE: TPH) announced a proposed public offering of $300 million in senior notes. The offering will be managed by Citigroup, J.P. Morgan, and others. The notes will mature in eight years and be guaranteed by the company's wholly-owned subsidiaries. Proceeds will finance a concurrent tender offer to repurchase existing senior notes due 2021, with any surplus used for general corporate purposes. The company has an effective registration statement with the SEC for this offering.
TRI Pointe Group reported a significant increase in net new home orders in May 2020, with orders more than doubling from April. The company recorded 472 orders in May, a slight 5% decrease from the previous year, while net new orders in April fell 54% year-over-year. California saw a 7% increase in May compared to last year. The CEO noted that despite challenges from COVID-19, demand has returned in nearly all markets. The cancellation rates were 36% in April and 23% in May. The company continues to operate and has reopened home galleries for walk-in traffic.