Subsequent Events

12 Months Ended

Dec. 31, 2012

Subsequent Events

20. Subsequent Events

On January 10, 2013, we completed a public offering of $250 million principal amount of 6% senior notes due 2043 (the “6% Notes”). The 6% Notes, which pay interest semiannually in arrears on January 15 and July 15 of each year, commencing July 15, 2013, are general unsecured obligations of MDC and rank equally and ratably with our other general unsecured and unsubordinated indebtedness. In addition, the 6% Notes are fully guaranteed on an unsecured basis, jointly and severally, by most of our homebuilding subsidiaries. We received proceeds of $247.8 million, net of underwriting fees of $2.2 million. We will use the proceeds of the offering for general corporate purposes.