MIAMI, Jan. 30, 2013 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), announced that it proposes to offer, in separate private offerings under SEC Rule 144A, a new issue of Senior Notes due 2018 and an additional amount of its 4.750% Senior Notes due 2022. Lennar completed the sale of the initial $350 million principal amount of 4.750% Senior Notes due 2022 on October 23, 2012. The Senior Notes due 2018 and Senior Notes due 2022 will be offered only to qualified institutional buyers in transactions that are exempt from the registration requirements of the Securities Act of 1933, as amended, under SEC Rule 144A or tonon-US persons in offshore transactions as that term is defined in SEC Regulation S.
The new issue of Senior Notes will mature on December 1, 2018 and the 4.750% Senior Notes will mature on November 15, 2022, unless they are redeemed or repurchased before that date. When they are issued, the Senior Notes due 2018 and the Senior Notes due 2022 will be guaranteed by some of Lennar's subsidiaries, but those guarantees may be suspended or released under certain circumstances.
Lennar said that it plans to use the net proceeds of the sale of the Senior Notes due 2018 and Senior Notes due 2022 primarily for working capital and general corporate purposes, which may include the repayment or repurchase of some of its outstanding senior notes.
Neither the Senior Notes due 2018 nor the Senior Notes due 2022, or their respective guarantees, will be registered under the Securities Act of 1933, as amended. Neither the Senior Notes due 2018 nor the Senior Notes due 2022 may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of that Act.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the Senior Notes in any jurisdiction in which such an offer or sale would be unlawful. It is issued pursuant to Rule 135c under the Securities Act of 1933, as amended.
SOURCE Lennar Corporation
|Resolute Announces Proposed Offering of Senior Notes (2013/4/24)|
|Realogy Announces Proposed Offering of Senior Notes (2013/4/23)|
|Delphi Corporation Announces Proposed Offering of Senior Notes (2013/2/11)|
|FIS Announces Proposed Offering of Senior Notes (2013/4/10)|
|Amkor Technology Announces Proposed Offering of Senior Notes (2013/5/15)|
|Ryman Hospitality Properties, Inc. Announces Proposed $300 Million Senior Notes Offering (2013/3/25)|
|Commercial Metals Company Announces Proposed $300 Million Senior Notes Offering in Connection with Tender Offer (2013/5/6)|
|Neenah Announces Proposed $175 Million Senior Notes Offering (2013/5/13)|
|Reliance Steel & Aluminum Co. Announces Proposed $500 Million Senior Notes Offering (2013/4/9)|
|NII Holdings Announces Proposed Offering of Senior Notes (2013/2/5)|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Morningstar Investing Classroom Rewards (earn as you learn and redeem for Morningstar merchandise)|
|P||Morningstar Fund Analyst Reports (full research on 2,000 funds and ETFs)|
|P||Morningstar Stock Analyst Reports (full research on 2,000 stocks)|
|P||Morningstar Stock and Fund Stewardship Grades|
|P||Portfolio Manager (advanced with 10 x-ray analyses, including guidance)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.