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D.R. Horton to price senior notes due 2020 following fixed income investor calls
By Cristal Cody
Tupelo, Miss., Nov. 29 – D.R. Horton, Inc. plans to price senior notes (Baa3/BBB-/BBB-) due 2020, according to a market source and a 424B5 filed with the Securities and Exchange Commission on Wednesday.
Citigroup Global Markets Inc., Mizuho Securities USA LLC, Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and U.S. Bancorp Investments, Inc. are the bookrunners.
D.R. Horton held fixed income investor calls on Tuesday.
The issue will be guaranteed by all of D.R. Horton’s homebuilding subsidiaries.
The notes will have a 101% change-of-control put.
Proceeds will be used for general corporate purposes, which may include the early redemption of the company’s 3.625% senior notes due Feb. 15, 2018.
D.R. Horton is a homebuilding company based in Arlington, Texas.
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