Millrose Properties Prices Upsized $1.25 Bln Private Offering Of 6.375% Senior Notes Due 2030

(RTTNews) - Millrose Properties Inc. (MRP) announced the pricing of its private offering of $1.25 billion aggregate principal amount of its 6.375% Senior Notes due 2030, 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 said it intends to use the net proceeds of the Offering to repay $500 million principal amount outstanding under the company's term loan credit agreement, dated June 24, 2025 and maturing June 23, 2026, to repay $450 million principal amount of outstanding borrowings under the company's revolving credit agreement dated February 7, 2025, and for general corporate purposes.