Published on 10/7/2019 in the Prospect News High Yield Daily and Prospect News Investment Grade Daily.
New Issue: D.R. Horton prices $500 million of 2.5% five-year senior notes
By Devika Patel
Knoxville, Tenn., Oct. 7 – D.R. Horton, Inc. sold $500 million of 2.5% five-year senior notes on Monday, according to a press release.
The bookrunners are J.P. Morgan Securities LLC, Mizuho Securities USA Inc., Wells Fargo Securities LLC, Citigroup Global Markets Inc. and U.S. Bancorp Investments Inc.
Proceeds will be used for general corporate purposes, including redeeming the company’s 4% senior notes due Feb. 15, 2020 prior to maturity.
The homebuilder is based in Fort Worth.
| Issuer: | D.R. Horton, Inc.
|
| Amount: | $500 million
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| Description: | Senior notes
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| Maturity: | Oct. 15, 2024
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| Bookrunners: | J.P. Morgan Securities LLC, Mizuho Securities USA Inc., Wells Fargo Securities LLC, Citigroup Global Markets Inc. and U.S. Bancorp Investments Inc.
|
| Coupon: | 2.5%
|
| Trade date: | Oct. 7
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| Settlement date: | Oct. 10
|
| Distribution: | SEC registered
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