BlackRock and Angelo Gordon enters $250m private placement for Landsea Homes
Landsea Homes Corp. has entered into a $250 million note purchase agreement with various investors, including funds and accounts managed by BlackRock Financial Management and affiliates thereof and Angelo, Gordon & Co.
The proceeds of the sale of the notes will be used by Landsea for refinancing and general corporate purposes. 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.
Landsea Homes Corp. is a publicly traded residential homebuilder based in Dallas that designs and builds best-in-class homes and sustainable master-planned communities.