As part of its ongoing work to restructure its debt, Beazer Homes USA announced Monday a proposal to sell $200 million in senior notes to be due in 2019.

The private notes would be offered to qualified institutional buyers and would be exempt from registration with the Securities and Exchange Commission.

Beazer said it plans to use the proceeds from the notes sale to fund or replenish cash that has been used to redeem or repurchase other senior notes.

The Atlanta-based company has been working full tilt for more than a year to restructure its debt in a variety of ways. By the end of its 2010 fiscal year Sept. 30, it had managed to decrease its total debt by $297 million.

Some of the debt moves it made in its 2010 fiscal year, which started Oct. 1, 2009, included selling 34.9 million new shares of common stock, $57.5 million of mandatory convertible subordinated notes, $300 million of senior notes due 2018, and 3 million tangible equity units.

It raised $597 million through those transactions, which it used for debt repurchases, including the retirement of its outstanding 2011 and 2012 senior notes and 2024 convertible senior notes. It also completed an exchange of $75 million of its junior subordinated notes.