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Meritage Homes Announces Offering Of Convertible Senior Notes

Stocks in this article: MTH

SCOTTSDALE, Ariz., Sept. 12, 2012 (GLOBE NEWSWIRE) -- Meritage Homes Corporation (NYSE:MTH), a leading U.S. homebuilder, today announced that it has commenced an underwritten registered public offering of $100 million aggregate principal amount of its Convertible Senior Notes due 2032, subject to market and other conditions. The notes will be convertible into shares of the Company's common stock at any time prior to maturity and will be guaranteed fully, unconditionally, and jointly and severally initially by all of the Company's direct and indirect 100% owned subsidiaries. The interest rate, conversion rate, and certain other terms of the offering will be determined at the time of pricing. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering will be completed, or as to the actual size or terms of the offering. The Company plans to use the proceeds received from the offering for general corporate purposes.

The notes are being offered pursuant to an effective shelf registration statement that was previously filed by the Company with the Securities and Exchange Commission. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering has been filed with the Securities and Exchange Commission.

Citigroup, JP Morgan, Deutsche Bank and BofA Merrill Lynch acted as joint book-running managers for the offering. Printed copies of the preliminary prospectus supplement relating to this offer and accompanying prospectus may be obtained by contacting Citigroup, Brooklyn Army Terminal, 140 58th Street, Brooklyn, New York 11220 or by Telephone: (800) 831-9146 or by email at batprospectusdept@citigroup.com; J.P. Morgan Securities LLC at 1-212-834-4533 or by mail to Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attention: Post-Sale Fulfillment; Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, New York 10005-2836 or by telephone at: (800) 503-4611, or by email at: prospectus.CPDG@db.com; or Merrill Lynch, Pierce, Fenner & Smith Incorporated at BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, 7th Floor, New York, New York 10038 or by emailing: dg.prospectus_requests@baml.com. An electronic copy of the preliminary supplement and accompanying prospectus may also be obtained at no charge at the Securities and Exchange Commission's website at www.sec.gov .

This release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of notes will be made only by means of a prospectus supplement and related base prospectus.

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