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
Feb. 25, 2014 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B) announced today that it has priced an underwritten public offering of
$100 million of 4.50% Senior Notes due
June 2019 (the "Notes"). The Notes are being sold at a public offering price of 100.50% of their principal amount. The Company plans to use the net proceeds from the offering, which are estimated to be
$100 million, for working capital and for general corporate purposes. The Company had previously sold
$400 million of 4.50% Senior Notes due
June 2019 on
February 12, 2014. The sale of the
$100 million of Notes is expected to close on
February 28, 2014, subject to customary closing conditions.
The Notes have an interest rate of 4.50% and pay interest semi-annually on
June 15 and
December 15, commencing
June 15, 2014.
Citigroup Global Markets Inc. is acting as Sole Book-Running Manager 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 prospectus and the prospectus supplement for free by visiting EDGAR on the SEC website at
www.sec.gov. Alternatively, the Company or Citigroup Global Markets Inc. 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.