Financing ·
Millrose Properties prices $1.0 billion of senior notes due 2029 and 2031
MRPMillrose Properties, Inc.
On October 6, 2026, Millrose Properties completed the sale of $1.0 billion in aggregate principal amount of senior unsecured notes. The offering consists of two tranches: $500 million of 6.500% senior notes due 2029 and $500 million of 6.750% senior notes due 2031. Interest is payable semi-annually on April 15 and October 15, commencing in April 2027. The 2029 Notes are redeemable at the company's option starting October 2027, while the 2031 Notes carry a mandatory redemption feature if the previously announced merger with Beazer Homes is not completed by May 13, 2027. Millrose Properties operates in the real estate investment and development sector.