Beazer Homes to sell $200 million in stock
Beazer Homes USA, Inc. (BZH) is selling $200 million worth of senior notes in a private offering. Proceeds from the notes, which are due in 2019, will replenish cash that was already used to fund prior redemptions and repurchases of its outstanding senior notes, according to a company statement. Beazer Homes is a single-family homebuilder based in Atlanta, Ga. In late-August, a former executive was indicted on accounting fraud and conspiracy to commit securities fraud. Beazer reported a net loss of $59.5 million in the fourth quarter and a net loss of $39 million for the fiscal year. Comparatively, the firm reported a net gain of $33.87 million in 4Q09 and a net loss of $189.4 million for the fiscal year 2009. Write to Christine Ricciardi. Disclosure: The author holds no relevant investments.