M/I Homes Inc., Columbus, Ohio (NYSE:MHO), on Thursday disclosed in an 8K filed with the Securities and Exhange Commission that it planned a $200 million buyback of its 6.875% senior notes due in 2012. The company said it would fund the transaction with a new note offering, which had not been announced as of 1 p.m. EDT.

The buyback offer includes a $30 premium for each $1,000 of face value, which, when combined with the offer of $1,015.00 for each $1,000 of face value, makes the payout $1,045.00.

Citi is acting as dealer manager for the tender offer. Global Bondholder Services Corp. is acting as the depositary and the information agent for the tender offer.

The offer is set to expire at 11:59 p.m. New York time on November 10.

M/I shares were down slightly more than 2% at $10.51 shortly after the filing.

Learn more about markets featured in this article: Columbus, OH.