Latham & Watkins Represents Landsea Homes Corporation in US$300 Million Private Senior Notes Offering

Landsea Homes Corporation (Nasdaq: LSEA), a publicly-traded residential homebuilder based in Dallas, has announced that it has priced its previously announced offering of US$300 million of 8.875% Senior Notes due 2029. The Notes will be guaranteed, jointly and severally, on a senior unsecured basis, by all of the Company’s material wholly owned subsidiaries as of their issuance (the Guarantors) and will rank pari passu with all other unsecured and unsubordinated indebtedness of the Company and Guarantors. The Offering is expected to settle on or around April 1, 2024, subject to customary closing conditions. 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.

Latham & Watkins LLP represented Landsea Homes Corporation in the offering with a capital markets team led by partner Andrew Baker and counsel Gemma Mootoo Rajah, with associates Paul Lau, Katie Byun, and Erin Gilgen. Advice was also provided on tax matters by partner Jiyeon Lee-Lim.