Beazer Homes USA Inc., the builder that's piled up $1.8 billionof losses since the collapse of the U.S. housing market, is buyingtime until the U.S. economy recovers by replenishing its capitalwith stock and bond sales.

Beazer sold $300 million of secured debt, raised about $160million selling stock and hybrid securities and said it would buyback $250 million of bonds last week. The Atlanta-based company's$300 million of 9.125 percent notes due June 2018 have returned 19percent in the past six weeks and now trade at more than 97 centson the dollar, according to data compiled by Bloomberg.

The fundraising bolsters Beazer's prospects by giving it cash tobuy land amid signs that housing is bottoming even though it hasn'tgenerated enough money to cover its interest expenses for fiveyears. The deals last week will save about $10 million in interest,while adding to Beazer's cash supply, said Stefan Lingmerth, ananalyst at Phoenix Investment Adviser LLC in New York.