William Lyon Homes sells $250 million in...

William Lyon Homes sells $250 million in convertible debt

William Lyon Homes said Thursday that its primary subsidiary had

sold $250 million in convertible debt.

The notes, issued by William Lyon Homes Inc. at a 10.75% interest

rate, are payable in 2013.

The Newport Beach homebuilder expects the sale of notes, which

will trade on the New York Stock Exchange, to close Monday.

The company said it will use the proceeds of sale to pay off

higher-interest-rate debt, including the existing 12.5% rate notes.

UBS Warburg LLC and Salomon Smith Barney Inc. are underwriting the

offering.

William Lyons builds single-family housing in California, Nevada

and Arizona.

Shares of the company’s stock, which trades under WLS on the New

York Stock Exchange, rose 0.9% on Friday to close at $22.30.

File Net Corp. signs deal with Korea’s second largest bank

Korea’s second largest bank has signed a deal to use a software

product provided by Costa Mesa-based FileNet Corp. to manage its

loan-financing process.

FileNet announced Tuesday that Woori Bank, which has a customer

base of 13 million, would begin using the company’s Enterprise

Content Management software.

FileNet will provide the software via Samsung SDS and Dawin Data

Systems, its partners in Korea.

The software allows bank employees to retrieve documents, forms,

correspondence and other important information over the Web. It is

also designed to streamline the flow of loan documents between the

bank’s various departments.

Terms of the deal were not disclosed.

FileNet trades on Nasdaq under the symbol FILE, the stock closed

Friday at $11.60, a 1.1% loss for the day.