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KAUFMAN AND BROAD FILES REGISTRATION STATEMENTS FOR 5 MILLION DEPOSITARY SHARES, $175 MILLION IN DEBT SECURITIES

 LOS ANGELES, March 15 /PRNewswire/ -- Kaufman and Broad Home Corp. (NYSE: KBH, KBS) today announced that it has filed two registration statements with the Securities and Exchange Commission. The first statement is for the registration of 5 million depositary shares, each representing one-fifth of a share of Series B Mandatory Conversion Premium Dividend Preferred Stock. The second statement is for the registration of $175 million of 10-year, senior subordinated notes. Neither offering is contingent upon the other.
 The company said the offering of depositary shares will be managed by Merrill Lynch & Co. The debt offering will be managed by Merrill Lynch & Co. and Goldman, Sachs & Co.
 At maturity, each of the depositary shares will convert automatically into a maximum of one share of Kaufman and Broad Home Corp. common stock. The dividend on the depositary shares will be higher than the current dividend on the company's common stock. Kaufman and Broad may call the depositary shares at a predetermined call price at any time prior to maturity, which may result in the delivery to the investor at such time of less than one share of common stock for each depositary share.
 The call price and the dividend of the depositary shares will be determined prior to the offering. Proceeds from the offering of depositary shares will be used for general corporate purposes. The company may use proceeds to repurchase stock.
 The terms and pricing for the debt securities will be determined prior to the offering. Net proceeds from the debt offering will be used to redeem the company's outstanding Liquid Yield Option Notes (LYONs).
 Los Angeles-based Kaufman and Broad Home Corp. is the largest producer of single-family housing in California and among the largest builders in metropolitan Paris, where the company develops commercial office properties and a variety of residential investment properties in addition to single-family homes.
 Registration statements relating to both of these securities have been filed with the Securities and Exchange Commission, but have not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statements become effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Prospectuses relating to either of the filings may be obtained from Kaufman and Broad or from Merrill Lynch & Co., and for the debt filing form Goldman, Sachs & Co.
 -0- 3/15/93
 /CONTACT: Eileen Rose of Kaufman and Broad, 310-443-8039/
 (KBH KBS)


CO: Kaufman and Broad Home Corp. ST: California IN: CST SU: OFR

MS-KJ -- LA029 -- 6292 03/15/93 18:06 EST
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Publication:PR Newswire
Date:Mar 15, 1993
Words:468
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