This Day On The Street
Continue to site
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

NVR, Inc. Announces Pricing Of $600 Million Of Senior Notes Due 2022

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:  newyork.prospectus@credit-suisse.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: dg.prospectus_requests@baml.com; 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: cmclientsupport@wellsfargo.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.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs