Shea Homes Limited Partnership and Shea Homes Funding Corp. Announce Expiration and Final Results of Their Previously Announced Tender Offer for Up to $75 million of Their Outstanding 6.125% Senior Notes due 2025

WALNUT, Calif., March 9, 2020 /PRNewswire/ -- Shea Homes Limited Partnership (the "Company") and Shea Homes Funding Corp. ("Funding Corp." and, together with the Company, the "Issuers") announced today the expiration and final results of their previously announced cash tender offer (the "Tender Offer") for up to $75 million of the $375 million outstanding principal amount of their 6.125% Senior Notes due 2025 (the "Notes"). The Tender Offer expired at 12:00 midnight, New York City time, at the end of the day on March 6, 2020 (the "Expiration Time").

As of the Expiration Time, holders of $61,842,000 in aggregate principal amount of the Notes had validly tendered and not validly withdrawn such Notes.  Previously, the Issuers accepted for payment $61,842,000 in aggregate principal amount of Notes, which were validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on February 21, 2020 (the "Early Tender Deadline"), which the Issuers paid for on February 25, 2020.  No additional Notes were tendered or accepted for payment after the Early Tender Deadline. 

The Issuers engaged J.P. Morgan Securities LLC to act as the Dealer Manager for the Tender Offer, and D.F. King & Co., Inc. to serve as the tender and information agent for the Tender Offer.

The complete terms and conditions of the Tender Offer are described in the Offer to Purchase, dated February 7, 2020 (the "Offer to Purchase"), which may be requested by contacting D.F. King & Co., Inc. Requests for documents may be directed to D.F. King & Co., Inc. by telephone (877) 478-5043 (toll free) (banks and brokerage firms please call (212) 269-5550) or by email at [email protected]. Questions regarding the terms of the Tender Offer may be directed to J.P. Morgan at (866) 834-4666 (US toll-free) and (212) 834-2045 (collect).

This press release is for informational purposes only and does not constitute an offer to purchase with respect to any Notes. The Tender Offer was made solely by means of the Offer to Purchase, which set forth the complete terms and conditions of the Tender Offer.

For Information Contact:
Andrew Parnes
(909) 594-0954

SOURCE Shea Homes Limited Partnership