Lennar Sells An Additional $50 Million Of 4.75% Senior Notes Due 2017
MIAMI, Aug. 9, 2012 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B) announced that it has sold an additional $50 million principal amount of its 4.75% Senior Notes due 2017 ("4.75% Senior Notes"), bringing the total outstanding principal amount of its 4.75% Senior Notes to $400 million. Lennar completed the sale of the initial $350 million principal amount on July 20, 2012.
The additional $50 million of 4.75% Senior Notes are being sold to an initial purchaser, who will resell them to one or more qualified institutional buyers in transactions that are exempt from the registration requirements of the Securities Act of 1933, as amended, under SEC Rule 144A. The additional $50 million of 4.75% Senior Notes are expected to be delivered and paid for on August 14, 2012.
Lennar plans to use the net proceeds of the sale of the additional 4.75% Senior Notes for working capital and for general corporate purposes, which may include acquisitions or repurchases of its existing senior notes or other indebtedness.
Neither the additional 4.75% Senior Notes nor any guarantees of them have been registered under the Securities Act of 1933, as amended. The 4.75% Senior Notes may not 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 4.75% 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
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim 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
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
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
Stocks Under $10
TRY IT FREEDavid 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
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll 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 + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur 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
