Howard Hughes Raises $1 Billion in Notes Offering, Plans 2028 Debt Redemption
Howard Hughes Corporation issued $500 million of senior notes due 2032 and $500 million due 2034, closing its $1 billion private placement. Net proceeds will fund redemption of all 5.375% notes maturing in 2028 on February 19, 2026, plus premiums, accrued interest and corporate uses.
1. Offering Completion and Amounts
Howard Hughes Corporation's subsidiary completed a private placement of $500 million senior notes due 2032 and $500 million senior notes due 2034, totaling $1 billion in aggregate principal.
2. Redemption Schedule for 2028 Notes
Net proceeds will be deployed to redeem all outstanding 5.375% senior notes due 2028 on February 19, 2026, including payment of premiums, accrued interest and related expenses.
3. Use of Additional Proceeds
After redemption, any remaining funds will support general corporate purposes, enhancing liquidity and capital flexibility for ongoing real estate development projects.
4. Private Placement Details
The notes were sold exclusively to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S, with no public registration in the United States or other jurisdictions.