06:04 AM EST, 11/13/2024 (MT Newswires) -- LGI Homes ( LGIH ) said late Tuesday it priced previously announced offering of $400 million aggregate principal amount of 7% unsecured senior notes due 2032 to qualified institutional buyers.

The notes will be initially guaranteed by LGI Homes ( LGIH ) subsidiaries that guarantee obligations under its revolving credit facility, according to the statement.

LGI Homes ( LGIH ) expects to complete the offering Friday and use the proceeds to repay a portion of outstanding borrowings under its revolving credit facility.