Ashton Woods Completes $450 Million Senior Notes Offering and Concurrent Tender Offer
08.01.25
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Simpson Thacher represented Ashton Woods USA L.L.C. (“Ashton Woods”) and Ashton Woods Finance Co. in connection with their offering of $450 million aggregate principal amount of 6.875% Senior Notes due 2033 in reliance on Rule 144A and Regulation S, and Ashton Woods in connection with its concurrent tender offer for any and all of the Issuers’ outstanding 6.625% Senior Notes due 2028. The Issuers used the net proceeds of the Notes Offering to purchase the 2028 Notes validly tendered and not validly withdrawn in the concurrent tender offer, to satisfy and discharge the indenture governing the 2028 Notes through the calling for redemption of all 2028 Notes not purchased by Ashton Woods in the concurrent tender offer, to pay fees and expenses related thereto and for working capital and general corporate purposes.
Ashton Woods is one of the nation’s largest private homebuilding companies.
The Simpson Thacher team for the transaction included Marisa Stavenas, Catherine Ciriello, Kelly Johnson and Harrison Gordon (Capital Markets); Michael Mann (Tax); Jeanne M. Annarumma (Executive Compensation and Employee Benefits); Ron Ben-Yehuda, Alexander Kokka and Paige Brinton (Intellectual Property); and Tim Gallagher (Real Estate).