Dow Jones – A group of noteholders, including affiliates of New York hedge fund Luxor Capital Group, agreed to buy any shares that go unsold in the offering. William Lyon s Homes’ senior secured lenders, led by an affiliate of real-estate finance and investment company Colony Financial Inc ., received a new $235 million secured note.
William Lyon is looking to benefit from a recent recovery in the U.S. housing market in the Western U.S. The company plans to use the proceeds from the IPO in part to acquire land.
