MRP•Millrose Properties priced $1 billion of senior notes in two $500 million tranches: 6.500% notes due 2029 and 6.750% notes due 2031, with the offering closing Oct. 6, 2026.
Millrose Properties priced $500 million of 6.500% senior notes due 2029 and $500 million of 6.750% senior notes due 2031. Interest on both tranches is payable April 15 and Oct. 15, starting April 15, 2027; the notes are senior unsecured obligations, and two subsidiaries guarantee them.
The 2031 notes face special mandatory redemption at 100% if the Dream Finders–Beazer merger is not completed by May 13, 2027, or is terminated earlier. The indentures also provide for a change-of-control repurchase at 101% and include limits on liens and asset sales.
