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U.S. HOME PRICES OFFERING OF $200 MILLION SENIOR NOTES

 HOUSTON, June 14 /PRNewswire/ -- U.S. Home Corporation (NYSE: UH) announced today the pricing of its public offering of $200 million principal amount, 9-3/4 percent Senior Notes due 2003 through Dillon, Read & Co. Inc. as underwriter. The notes are non-redeemable until June 15, 1998, at which time they are redeemable at the option of the company at declining premiums. It is anticipated that the closing of the sale of the Notes will be on June 21, 1993 simultaneous with the closing of the $95 million four-year revolving credit agreement with General Electric Capital Corporation and the effective date of the plan of reorganization.
 Mr. Robert J. Strudler, chairman and chief executive officer, and Mr. Isaac Heimbinder, president and chief operating officer, stated that "completion of this financing will be the final stage in the company's emergence from Chapter 11 and will provide unsecured creditors with approximately $165 million in cash payments in lieu of four-year and six-year debt securities contemplated under the plan. The new capital structure resulting from the plan, together with the $200 million of ten-year notes and the $95 million revolving credit, will provide U.S. Home with a strong financial structure that will enable it to continue its position as one of the nation's leading homebuilders."
 -0- 6/14/93
 /CONTACT: Kelly F. Somoza, vice president of U.S. Home Corporation, 713-877-2391/
 (UH)


CO: U.S. Home Corporation ST: Texas IN: SU: OFR

TS -- NY108 -- 1817 06/14/93 17:01 EDT
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Publication:PR Newswire
Date:Jun 14, 1993
Words:247
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