14.

Senior Notes

The following table sets forth the carrying amount of our senior notes as of March 31, 2013 and December 31, 2012, net of applicable discounts:


	March 31,		December 31,
	2013		2012
	(Dollars in thousands)
5.375% Senior Notes due 2014	$	249,668	$	249,621
5.375% Senior Notes due 2015		249,905		249,895
5.625% Senior Notes due 2020		245,459		245,326
6.000% Senior Notes due 2043		250,000		-

Total	$	995,032	$	744,842

On January 10, 2013, we issued $250 million of 6% senior notes due 2043 (the “6% Notes”). The 6% Notes, which pay interest semi-annually 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. We received proceeds of $247.8 million, net of underwriting fees of $2.2 million. The proceeds of the offering are for general corporate purposes.

Our senior notes are not secured and, while the senior note indentures contain some restrictions on secured debt and other transactions, they do not contain financial covenants. Our senior notes are fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by substantially all of our homebuilding segment subsidiaries.