TAYLOR MORRISON ANNOUNCES COMMENCEMENT OF CASH TENDER OFFER AND CONSENT SOLICITATION – QNT Press Release

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SCOTTSDALE, Ariz., June 13, 2022 /PRNewswire/ — Taylor Morrison Home Corporation (NYSE:TMHC) (“TMHC”) today announced that its subsidiary, Taylor Morrison Communities, Inc. (the “Issuer”), has commenced a tender offer (the “Tender Offer”) to purchase for cash any and all of its outstanding 6.625% senior notes due 2027 (the “Notes”).

In connection with the Tender Offer, the Issuer is also soliciting (the “Consent Solicitation”) from holders of the Notes consents (the “Consents”) to proposed amendments to the indenture, dated as of February 10, 2020by and among the Issuer, the guarantors party thereto (the “guarantors”) and US Bank, National Association, as trustee (the “Trustee”) (the “Indenture”), to (i) shorten the minimum notice period for optional redemption of the Notes by the Issuer from “at least 15 days but not more than 60 days” to “at least three Business Days and no more than 60 days” and (ii) eliminate certain covenants and events of default (collectively, the ” Proposed Amendments”). The terms and conditions of the Tender Offer and Consent Solicitation are described in an Offer to Purchase and Consent Solicitation Statement, dated June 13, 2022 (the “Offer to Purchase and Consent Solicitation Statement”). The following table summarizes the material pricing terms of the Tender Offer.

CUSIP/ISIN

Outstanding
principal
Amount

Title of Notes

Early Tender
Payment
(1)(2)

Tender Offer
Consideration
(1)(3)(4)

Total
Consideration
(1)(3)(5)

87724RAG7

$290,400,000

6.625% Senior

$970.00

$30.00

$1,000.00

USU8760NAE95

Notes due 2027

87724RAH5

Full story available on Benzinga.com

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