This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

KB Home Announces Final Results Of Its Tender Offers

Stocks in this article: KBH

KB Home (NYSE: KBH), one of the nation’s largest and most recognized homebuilders, today announced that the Company has increased by approximately $5 million the maximum amount for its previously announced cash tender offers for its 5⅞% Senior Notes due 2015 and 6¼% Senior Notes due 2015 (together, the “2015 Notes”). As a result, KB Home will accept all validly tendered 2015 Notes without proration. The tender offers for the 2015 Notes and the tender offer to purchase any and all of KB Home’s 5¾% Senior Notes due 2014 (the “2014 Notes”) were made pursuant to an Offer to Purchase dated July 11, 2012 and a related Letter of Transmittal, each as amended by a press release issued on July 24, 2012, which set forth a more detailed description of the terms of the tender offers.

As of 11:59 p.m., New York City time, on August 7, 2012, the aggregate principal amount of the 2014 Notes tendered was $117.7 million, the aggregate principal amount of the 5⅞% Senior Notes due 2015 tendered was $67.8 million, and the aggregate principal amount of the 6¼% Senior Notes due 2015 tendered was $59.4 million. KB Home accepted for purchase all of the tendered 2014 Notes and 2015 Notes, with settlement expected today. As previously announced, KB Home intends to apply a portion of the net proceeds from its public offering of $350 million in aggregate principal amount of 7.5% Senior Notes due 2022, which closed on July 31, 2012, toward the payment of accepted 2014 Notes and 2015 Notes.

Holders whose 2014 Notes have been accepted for purchase will receive $1,040 per $1,000 principal amount of notes. Holders whose 2015 Notes have been accepted for purchase and who tendered at or prior to the “Early Tender Date” of 5:00 p.m., New York City time, on July 23, 2012, will receive $1,020 per $1,000 principal amount of notes, which includes the Early Tender Premium of $30 per $1,000 principal amount. Holders whose 2015 Notes have been accepted for purchase and who tendered after the Early Tender Date will receive $990 per $1,000 principal amount of notes.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs