Howard Hughes Launches Add-On Offering

The Howard Hughes, a developer of master planned communities and mixed use properties, said it has launched an offering through a private placement of $200 million in aggregate principal amount of 5.375% senior notes due 2025. The notes will be unsecured senior obligations of the company and, other than their issue date and issue price, the terms will be identical to the terms of the $800 million in aggregate principal amount of 5.375% senior notes due 2025 previously issued on March 16.

Upon completion of the offering, the aggregate principal amount outstanding of the 5.375% senior notes due 2025 will be $1 billion. The company said it will use the net proceeds from the offering for general corporate purposes, including repayment of construction financings, and ongoing development projects.

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