BB&T Serves as Joint Book-Running Manager for PulteGroup’s $1 Billion Two-Tranche Offering of Senior Notes
On July 26, 2016, BB&T Capital Markets served as a book-running lead manager for a $1 billion two-tranche offering of senior notes by PulteGroup, Inc.
The offering consisted of a $400 million tranche of 4.25% senior notes due 2021 and a $600 million tranche of 5.00% senior notes due 2027.
Proceeds from the offering were used to repay a portion of the amounts outstanding under PulteGroup’s term loan facility, to repay any borrowings outstanding under its revolving credit facility and for general corporate purposes.
About the Companies
PulteGroup’s core business is homebuilding, offering a wide variety of home designs, including single-family detached, townhouses, condominiums, and duplexes at different prices and with varying levels of options and amenities, depending on the customer group (first-time; move-up; and active adult). PulteGroup also engages in financial services, including mortgage and title operations. The company has been in operation since 1956 and in that time, has delivered 655,000 homes.
Commercial & Industrial
The BB&T Capital Markets Commercial & Industrial Group provides clients with industry expertise and exceptional transaction execution. We offer M&A advisory, capital raising and corporate banking services for a variety of sectors, including building products & materials; commercial & consumer durables; industrial manufacturing and distribution; and outsourced commercial and industrial services.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.