Millrose Properties plans to offer up to $1,000,000,000 ($1,000 million) of senior notes in $500,000,000 tranches due 2029 and 2031. Proceeds, combined with $500 million from a delayed draw term loan, are intended for corporate purposes including potential homesite acquisitions and repayment of revolving-credit borrowings.

Key Highlights

  • Millrose Properties plans to raise up to $1,000 million through senior notes and combine the net proceeds with $500 million drawn under its delayed draw term Loan facility.
  • The planned financing would be paired with $500 million drawn under a delayed draw term loan facility.
  • Millrose Properties plans to raise up to $1 billion through senior notes.
  • The proposed offering includes two equal $500 million tranches, maturing in 2029 and 2031.

Millrose Properties, Inc. (NYSE: MRP) is a real estate development company. The business plans to raise up to $1,000,000,000 ($1,000 million) through senior notes, giving investors two proposed Maturity dates and a stated plan for the proceeds.

Two Senior-Note Tranches Set for 2029 and 2031

The offering would comprise senior notes in two equal portions of $500,000,000 ($500 million), with one Tranche due in 2029 and the other due in 2031. Millrose expects to combine the net proceeds with $500 million drawn under its delayed draw term loan facility.