Latham & Watkins Represents Landsea Homes Corporation in Private Placement of US$250 Million in Senior Unsecured Notes

Landsea Homes Corporation (Nasdaq: LSEA) has announced that it has entered into a note purchase agreement with various investors, including funds and accounts managed by BlackRock Financial Management Inc. and affiliates thereof and Angelo, Gordon & Co., L.P. The note purchase agreement provides for the private placement of US$250 million aggregate principal amount of 11% senior notes due 2028. The notes will be guaranteed, jointly and severally, on a senior unsecured basis, by most of the Company’s subsidiaries (the Guarantors) and will rank pari passu with all other unsecured and unsubordinated indebtedness of the Company and Guarantors. The Company intends to use the net proceeds from the sale of the notes to pay down a portion of the outstanding borrowings under its revolving credit facility and for working capital and general corporate purposes.

Latham & Watkins LLP represented Landsea Homes Corporation in the offering with a capital markets team led by partner Andrew Baker, with counsel Gemma Mootoo Rajah and associates Paul Lau, Katie Byun, and Erin Gilgen. Advice was also provided on tax matters by partner Jiyeon Lee-Lim, with associate Ron Moore.