The New Home Company Inc. has announced that it has priced a private offering of US$250.0 million in aggregate principal amount of 7.25% senior notes due 2025 (the “2025 notes”). The 2025 notes will be issued at an offering price of 100% of their face amount, which represents a yield to maturity of 7.25%. The Company expects to close this offering on October 28, 2020, subject to the satisfaction of customary closing conditions.
Latham & Watkins LLP represents the New Home Company Inc. in the transaction with a capital markets deal team led by Boston partner Wesley Holmes and Washington, D.C. counsel Charles Cassidy, with Orange County associates Benjamin Sosin and Gregory Van Buiten and New York associate Roger Yarett. Orange County partners Charles Ruck and Michael Treska advised on additional corporate matters. Advice was also provided on tax matters by Los Angeles partners Sam Weiner and Ana O’Brien, with Los Angeles associate Kathryn Harrington.