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D.R. Horton, Inc.
, America's Builder, announced that it has priced
a registered underwritten public offering of $500 million aggregate principal
amount of 4.000% senior notes due 2020. The senior notes will pay interest
semi-annually at a rate of 4.0% per year and will mature on February 15, 2020.
The closing of the offering is expected to occur on February 9, 2015, subject
to customary closing conditions. D.R. Horton will use the net proceeds of the
offering for general corporate purposes.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan
Securities LLC, RBS Securities Inc. and Wells Fargo Securities, LLC are acting
as Joint Book-Running Managers in the transaction.
The Company has filed a registration statement (including a prospectus
supplement) with the Securities and Exchange Commission (SEC) for the offering
to which this press release relates. Copies of the preliminary prospectus
supplement, the accompanying prospectus and when available, the final
prospectus supplement, may be obtained by visiting EDGAR on the SEC's website
at www.sec.gov, by contacting Citigroup Global Markets Inc. by telephone at
(800) 831-9146 (toll free) or at the following address: Citigroup Global
Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717.
This press release shall not constitute an offer to sell or a solicitation of
an offer to buy these senior notes, nor shall there be any offer, solicitation
or sale of these senior notes in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful. The senior notes offering is
being made only by means of the prospectus supplement and accompanying
prospectus.
Portions of this document may constitute "forward-looking statements" as
defined by the Private Securities Litigation Reform Act of 1995. Although D.R.
Horton believes any such statements are based on reasonable assumptions, there
is no assurance that actual outcomes will not be materially different. All
forward-looking statements are based upon information available to D.R. Horton
on the date this release was issued. D.R. Horton does not undertake any
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. The
forward-looking statements include that the closing of the offering is
expected to occur on February 9, 2015, subject to customary closing
conditions, and that D.R. Horton will use the net proceeds of the offering for
general corporate purposes.
Factors that may cause the actual results to be materially different from the
future results expressed by the forward-looking statements include, but are
not limited to: potential deterioration in homebuilding industry conditions or
general economic conditions; the cyclical nature of the homebuilding industry
and changes in economic, real estate and other conditions; constriction of the
credit markets, which could limit our ability to access capital and increase
our costs of capital; reductions in the availability of mortgage financing and
the liquidity provided by government-sponsored enterprises, the effects of
government programs, a decrease in our ability to sell mortgage loans on
attractive terms or an increase in mortgage interest rates; the risks
associated with our land and lot inventory; home warranty and construction
defect claims; supply shortages and other risks of acquiring land, building
materials and skilled labor; reductions in the availability of performance
bonds; increases in the costs of owning a home; the impact of an inflationary,
deflationary or higher interest rate environment; the effects of governmental
regulations and environmental matters on our homebuilding operations; the
effects of governmental regulation on our financial services operations; our
substantial debt and our ability to comply with related debt covenants,
restrictions and limitations; competitive conditions within the homebuilding
and financial services industries; our ability to effect our growth strategies
or acquisitions successfully; our ability to realize the full amount of our
deferred income tax assets; the effects of the loss of key personnel; the
effects of negative publicity; and information technology failures and data
security breaches. Additional information about issues that could lead to
material changes in performance is contained in D.R. Horton's annual report on
Form 10-K and our most recent quarterly report on Form 10-Q, both of which are
filed with the Securities and Exchange Commission.
Contact:
D.R. Horton, Inc.
Jessica Hansen, 817-390-8200
Vice President of Communications
InvestorRelations@drhorton.com
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