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