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Pulte Announces Early Tender Offer Results

BLOOMFIELD HILLS, Mich. (AP) ¿ Pulte Homes Inc. on Tuesday announced results from the initial round of its offer to buy up to $1.5 billion in debt in connection with its newly completed acquisition of homebuilder Centex Corp.

The tender offer was announced Aug. 11, and is to expire on Sept. 8, unless extended.

Holders who validly tendered notes by Monday's early tender date under an "any and all offer" are due to receive payment on Aug. 25, with those tendered after the early tender date and before the expiration date are to be paid at or promptly after the expiration.

As of the close of business Monday, Pulte reported the following acceptance levels for the total of about $1.37 billion in principal outstanding on notes included in the "any and all" offer:

¿ $252.9 million, or 84 percent, of $300 million in principal outstanding on 4.55 percent notes due in 2010 and issued by Centex;

¿ $306.8 million, or 78 percent, of $392.5 million in principal outstanding on 7.875 percent notes due in 2011 and issued by Centex;
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