MIAMI, Feb. 5, 2014 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B) announced today that it has priced an underwritten public offering of $400 million of 4.50% Senior Notes due June 2019 (the "Notes"). The Company plans to use the net proceeds from the offering for working capital and for general corporate purposes. The offering of the Notes is expected to close on February 12, 2014, subject to customary closing conditions.
The Notes will have an interest rate of 4.50% and will pay interest semi-annually on June 15 and December 15 commencing June 15, 2014.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, BMO Capital Markets Corp. and UBS Securities LLC are acting as Joint Book-Running Managers in the offering. PNC Capital Markets LLC and Comerica Securities, Inc. are acting as Co-Managers in the offering.
The offering is being made pursuant to a prospectus supplement and an accompanying prospectus filed as part of an automatic shelf registration statement filed by the Company on Form S-3 with the Securities and Exchange Commission ("SEC"). You may obtain a copy of the preliminary prospectus supplement, the accompanying prospectus and the final prospectus supplement, when available, for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company, any underwriter or any dealer participating in the offering will arrange to send you any of those documents upon request by contacting Citigroup Global Markets Inc., Telephone 1-800-831-9146.This press release shall not constitute an offer to sell or the 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 such jurisdiction.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV