We advised the representative of the initial purchasers and the dealer manager for the tender offer

Davis Polk advised the representative of the initial purchasers in a Rule 144A / Regulation S offering by Taylor Morrison Communities, Inc. (TMCI), a wholly owned subsidiary of Taylor Morrison Holdings, Inc. (TMHI), of $525 million aggregate principal amount of its 5.750% senior notes due 2032. The notes are senior unsecured obligations of TMCI and will be guaranteed on a senior unsecured basis by TMHI, Taylor Morrison Home III Corporation and certain of TMHI’s existing and future subsidiaries.

Davis Polk also advised the dealer manager in connection with TMCI’s concurrent cash tender offer for an aggregate purchase price of approximately $490 million, plus accrued interest, of TMCI’s 5.875% senior notes due 2027. The net proceeds of the senior notes offering, together with cash on hand, were used to fund the cash tender offer and redeem certain other series of outstanding notes.

Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation’s leading homebuilders and developers. It serves a wide array of consumers from coast to coast, including first-time, move-up, luxury and resort lifestyle homebuyers and renters under brands—including Taylor Morrison, Esplanade and Yardly.

The Davis Polk capital markets team included partner Michael Kaplan and associates Dennis Chu, Kanger Jin and Yusuke Tsuzuki. The environmental team included counsel Loyti Cheng and associates Timothy J. Sullivan and David Sacasa-Ospina. The tax team included counsel Tracy L. Matlock and associate Nancy B. Regan. All members of the Davis Polk team are based in the New York office.

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