This Day On The Street
Continue to site
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

KB Home Announces Upsizing And Pricing Of Senior Notes Due 2021

KB Home (NYSE: KBH), one of the nation’s largest and most recognized homebuilders, today announced that it has upsized and priced an offering of $450 million in aggregate principal amount of senior notes due 2021 (the “2021 Senior Notes”). The size of the offering was increased to $450 million from the previously announced $350 million. The 2021 Senior Notes will bear interest at a rate of 7.0% per annum and will be issued at a public offering price of 100% of their face amount. The Company expects to close the 2021 Senior Notes offering on October 29, 2013, subject to the satisfaction of customary closing conditions. Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are acting as joint book-running managers for the notes offering.

KB Home intends to apply a portion of the net proceeds from the senior notes offering toward (i) the payment of the purchase price of notes validly tendered and accepted for purchase in its previously announced cash tender offers for any and all of its outstanding 5¾% Senior Notes due 2014 (the “2014 Notes”), any and all of its outstanding 5⅞% Senior Notes due 2015 (the “5⅞% 2015 Notes”, and together with the 2014 Notes, the “Redeemable Notes”), and up to $37.0 million in aggregate principal amount of its outstanding 6¼% Senior Notes due 2015, including the payment of unpaid interest and any applicable early tender premiums offered for each series of notes pursuant to the terms of the tender offers and (ii) at KB Home’s option, the redemption of any Redeemable Notes not purchased in the tender offers. The remaining net proceeds will be used for general corporate purposes.

The senior notes offering is being made pursuant to an effective shelf registration statement that KB Home has on file with the Securities and Exchange Commission (“SEC”). A copy of the prospectus supplement and accompanying prospectus describing the offering, when available, may be obtained by visiting EDGAR on the SEC’s website at or by contacting Credit Suisse at the following address: Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, e-mail: or toll free at (800) 221-1037.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of such 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 such jurisdiction. The senior notes offering is being made only by means of the prospectus supplement and accompanying prospectus.

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 0.00%
FB $118.57 0.00%
GOOG $698.21 0.00%
TSLA $241.80 0.00%
YHOO $36.53 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs