FORT WORTH, Texas -- (Business Wire)
D.R. Horton, Inc. (NYSE:DHI), America’s Builder, announced that it has
priced a registered underwritten public offering of $400 million
aggregate principal amount of 3.625% senior notes due 2018 and $300
million aggregate principal amount of 4.75% senior notes due 2023. The
senior notes due 2018 will pay interest semi-annually at a rate of
3.625% per year and will mature on February 15, 2018. The senior notes
due 2023 will pay interest semi-annually at a rate of 4.75% per year and
will mature on February 15, 2023. The closing of the offering is
expected to occur on February 5, 2013, subject to customary closing
conditions. D.R. Horton will use the net proceeds of the offering for
general corporate purposes.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Deutsche Bank
Securities Inc., RBS Securities Inc., UBS Securities LLC and Wells Fargo
Securities, LLC acted 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 web site at www.sec.gov,
by contacting J.P. Morgan Securities LLC by telephone at (800) 245-8812
or at the following address: J.P. Morgan Securities LLC, Attn: High
Yield Syndicate, 383 Madison Avenue, 3rd Floor, New York, NY 10179.
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 5, 2013, subject to customary closing conditions, and that D.R.
Horton will use the net proceeds of the offering for general corporate
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 and the current weak U.S. economy; the cyclical
nature of the homebuilding industry and changes in general 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 for
acquiring land, building materials and skilled labor; reductions in the
availability of performance bonds; increases in the costs of owning a
home; the effects of governmental regulations and environmental matters
on our homebuilding operations; the effects of governmental regulation
on our financial services operations; our debt obligations 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 any future growth
strategies successfully; the impact of an inflationary or deflationary
environment; our ability to realize the full amount of our deferred
income tax asset; 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.
D.R. Horton, Inc.
Jessica Hansen, 817-390-8200
Source: D.R. Horton, Inc.
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