RESTON, Va., Sept. 5, 2012 /PRNewswire/ -- NVR, Inc. (NYSE: NVR), one of the nation's largest homebuilding companies, announced the pricing of its underwritten public offering of $600 million aggregate principal amount of senior notes. The senior notes will bear interest at a rate of 3.95% per year and will mature in 2022. Interest on the notes is payable on March 15 and September 15 of each year, beginning on March 15, 2013. The notes will be unsecured, unsubordinated obligations of NVR. The closing of the offering is expected to occur on September 10, 2012, subject to customary closing conditions.
NVR estimates that the net proceeds of this offering will be approximately $593.7 million, after deducting the underwriting discounts and estimated offering expenses. NVR intends to use the net proceeds from the offering for general corporate purposes, which may include repurchases of its common shares.
The offering is being made pursuant to an automatic shelf registration statement filed with the Securities and Exchange Commission on September 5, 2012. A prospectus supplement and related prospectus relating to the public offering have been filed with the Securities and Exchange Commission.
Credit Suisse Securities ( USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC are serving as joint book-running managers for the offering.The offering may be made only by means of the prospectus supplement and accompanying prospectus. A copy of the prospectus and related prospectus supplement may be obtained from Credit Suisse Securities ( USA) LLC at Attention: Prospectus Department, One Madison Avenue, New York, New York 10010 or by calling toll-free 1-800-221-1037 or by emailing: email@example.com; from Merrill Lynch, Pierce, Fenner & Smith Incorporated at BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, 7th Floor, New York, New York 10038 or by emailing: firstname.lastname@example.org; or from Wells Fargo Securities, LLC at 1525 West W.T. Harris Blvd, NC0675, Charlotte, North Carolina 28262, Attention: Capital Markets Client Support or by calling toll-free 1-800-326-5897 or by emailing: email@example.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction.
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