News Column

Lennar Prices $400 Million of Senior Notes

February 21, 2014



By a News Reporter-Staff News Editor at Economics Week -- Lennar Corporation (NYSE: LEN and LEN.B) announced 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.

Keywords for this news article include: Economics, Lennar Corporation, Investment and Finance.

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Source: Economics Week


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