December 14, 2009 (FinancialWire) — Mexican homebuilder Desarrolladora Homex, S.A.B. de C.V. (NYSE: HXM) said it has closed a private offering of $250 million of 9.50% senior notes due 2019 (the “senior notes”).

The company plans to use the proceeds of the offering to repay approximately $190 million of existing indebtedness, or approximately 28% of its total outstanding debt, including approximately $151 million of short- term indebtedness, including commercial paper instruments and bank debt, and approximately $39 million of bridge loans.

Homex also plans to use approximately $45 million to grow its operations in Brazil and for its tourism-oriented projects. The remaining net proceeds from the sale of the notes would be used for general corporate purposes.

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