Printer Friendly

KAUFMAN AND BROAD ISSUES $175 MILLION IN NEW SENIOR SUBORDINATED NOTES

 LOS ANGELES, April 26 /PRNewswire/ -- Kaufman and Broad Home Corp. (NYSE: KBH, KBS, KBH/PrB) today announced the offering of $175 million in 9 3/8 percent senior subordinated notes due May 1, 2003, at an offering price of 99.202 percent. The notes have been approved for listing on the New York Stock Exchange.
 The offering is being underwritten by Merrill Lynch & Co. and Goldman, Sachs & Co.
 Kaufman and Broad will use the net proceeds from the offering of approximately $170.1 million to redeem all of the company's outstanding zero-coupon convertible subordinated notes (Liquid Yield Option Notes or LYONs), due in 2004. The aggregate redemption price of the LYONs is anticipated to be approximately $169 million.
 Interest on the new senior notes will be payable semi-annually in May and November of each year, commencing on Nov. 1, 1993. The notes may be redeemed at the company's option, in whole or in part, at any time on or after May 1, 2000, at 100 percent of the principal amount, together with any accrued and unpaid interest.
 Kaufman and Broad is California's largest home builder 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.
 -0- 4/26/93
 /CONTACT: Bernard Sandalow of Kaufman and Broad, 310-443-8040/
 (KBH KBS)


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

KJ-JB -- LA034 -- 0844 04/26/93 15:10 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 26, 1993
Words:247
Previous Article:ELAYNE M. GAROFOLO APPOINTED EXECUTIVE VICE PRESIDENT OF MARKETING AT CARTER HAWLEY HALE STORES
Next Article:CORNUCOPIA RESOURCES LTD. NEGOTIATES OPTION TO ACQUIRE INTEREST IN MARY-DRINKWATER GOLD DEPOSIT
Topics:


Related Articles
KAUFMAN AND BROAD REPORTS HIGHER FOURTH QUARTER, YEAR-END EARNINGS
KAUFMAN AND BROAD FILES REGISTRATION STATEMENTS FOR 5 MILLION DEPOSITARY SHARES, $175 MILLION IN DEBT SECURITIES
KAUFMAN AND BROAD REPORTS HIGHER FIRST QUARTER EARNINGS
KAUFMAN AND BROAD CALLS IN OUTSTANDING CONVERTIBLE SUBORDINATED NOTES
KAUFMAN AND BROAD REPORTS HIGHER SECOND QUARTER RESULTS ON CONTINUED IMPROVEMENT IN CALIFORNIA
D&P CREDIT RATING DOWNGRADES KAUFMAN AND BROAD HOME CORPORATION
Kaufman and Broad Files Universal Shelf Registration
Kaufman and Broad Files Universal Shelf Registration(z)
S&P Affirms Ratings on Kaufman & Broad Home Corp.
/C O R R E C T I O N -- Integrated Electrical Services, Inc./.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters