MIAMI, April 10, 2013 /PRNewswire/ -- Lennar Corporation(NYSE: LEN and LEN.B) announced that it has sold $50 million principal amount of its 4.750% Senior Notes due 2022, at a price of 98.25%, bringing the total outstanding principal amount of its 4.750% Senior Notes due 2022 to $575 million. The sale was to an initial purchaser, which will resell the Senior Notes to qualified institutional buyers in transactions that are exempt from the registration requirements of the Securities Act of 1933, as amended, under SEC Rule 144A or to non-U.S. persons in offshore transactions as that term is defined in SEC Regulation S. Lennar had previously sold $350 million principal amount of 4.750% Senior Notes due 2022 on October 23, 2012 and an additional $175 million principal amount on February 4, 2013. The $50 million principal amount sold today is expected to be delivered and paid for on April 17, 2013. The 4.750% Senior Notes due 2022 will mature November 15, 2022, unless they are redeemed or repurchased before that date. Lennar will have the right to redeem the 4.750% Senior Notes due 2022 at any time. If the 4.750% Senior Notes due 2022 are redeemed more than 90 days prior to their scheduled maturity date, the redemption price will be the greater of 100% of their principal amount or the present value of the remaining payments of principal and interest, discounted at the applicable Treasury Rate plus 50 basis points (0.50%). If the 4.750% Senior Notes due 2022 are redeemed within 90 days before their scheduled maturity, the redemption price will be 100% of their principal amount. In either case the redemption payment will also include accrued but unpaid interest.