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Millrose Properties, Inc. (NYSE:MRP) ("Millrose" or the "Company") announced today the pricing of its private offering (the "Offering") of $1.25 billion aggregate principal amount of its 6.375% Senior Notes due 2030 (the "Notes"), representing a $250 million upsize from the previously announced offering size, at an initial offering price of 100.000% of the principal amount plus accrued interest, if any, from August 7, 2025. The Offering is expected to close on August 7, 2025, subject to customary closing conditions.
Millrose intends to use the net proceeds of the Offering (i) to repay $500 million principal amount outstanding under the Company's term loan credit agreement, dated June 24, 2025 and maturing June 23, 2026, (ii) to repay $450 million principal amount of outstanding borrowings under the Company's revolving credit agreement dated February 7, 2025, and (iii) for general corporate purposes.
Posted In: MRP
