WCI Communities to Sell $50 Million in Notes. Money Goes into Buying Land

Category: Construction News
Published: Jul 1, 2014

Photo credit: seier+seier / Foter / Creative Commons Attribution 2.0 Generic (CC BY 2.0)

WCI Communities announced they will be selling $50 million in notes, the money from which will go for purchasing land and running the Bonita Springs.
The Southeastern Florida builder is not selling notes for the first time. In July 2013, they issued $200 million worth of notes. WCI Communities already has a structured process and terms by which the procedure will go. The notes will mature in 2021 and will carry a 6.875% interest rate.
The company plans to use some of the proceeds for paying off an earlier-issued note, which matures in 3 years.
Read the full article at Bradenton.com.

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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.