M/I Homes, Inc., Columbuns (NYSE: MHO) on Friday said $158.6 million in outstanding 6.875% senior notes due 2012 had been validly tendered before the midnight, Nov. 10 deadline.

It said it expected to fund the buyback with the net proceeds from its private placement of $200 million aggregate principal amount of 8.625% Senior Notes due 2018.

The company also announced today the closing of that previously announced $200 million in 2018 notes to the initial purchasers, which resold the notes to qualified institutional buyers.

The remainder of the net proceeds from the sale of the new notes will be used for general corporate purposes.