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M/I Homes, Inc. Announces Pricing Of $30 Million Of Senior Notes Due 2018

COLUMBUS, Ohio, May 3, 2012 /PRNewswire/ -- M/I Homes, Inc. (NYSE: MHO) announced today the pricing of its offering of an additional $30 million of its 8.625% Senior Notes due 2018 (the "New Senior Notes"). The New Senior Notes will be additional notes issued under the indenture pursuant to which the Company's outstanding $200 million aggregate principal amount of 8.625% Senior Notes due 2018 (the "Existing Senior Notes") were issued.  The Existing Senior Notes and the New Senior Notes will have identical terms and will be treated as a single class under the indenture. The New Senior Notes were priced at 99.00% of their face value to yield 8.829%.

The New Senior Notes will be offered only to qualified institutional buyers in the United States under Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain investors in compliance with Regulation S under the Securities Act. The offering of the New Senior Notes will not be registered under the Securities Act or any state securities laws and the New Senior Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

The Company intends to use the net proceeds from the sale of the New Senior Notes for our general corporate purposes, which may include acquisitions of land, repayment of other indebtedness, capital expenditures and increasing our working capital. The sale of the New Senior Notes is subject to customary closing conditions and is expected to close on May 8, 2012.

This announcement is not an offer to sell or the solicitation of an offer to buy the New Senior Notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful.

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