Meritage selling, buying notes

Meritage Homes Corp. wants to redeem up to $195 million in senior notes that pay up to 7 percent interest and has launched a $200 million private placement of new senior notes to pay for the purchases. The company also says it is closing in on a return to profitability for the year. Interest rate on the new notes and other terms have yet to be negotiated, according to the Scottsdale company’s announcement Tuesday.

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