DR Horton raises shelf to $1 billion of debt, stock, preferreds, units

New York, March 11 - D.R. Horton, Inc. increased its shelf filing with the Securities and Exchange Commission to $1 billion. The Arlington, Texas homebuilder previously had $350 million of unsold securities available from an earlier shelf registration.

D.R. Horton' shelf covers debt securities, preferred stock, depositary shares, common stock, warrants, stock purchase contracts and stock purchase units, trust preferred securities of DRH Capital Trust I, DRH Capital Trust II and DRH Capital Trust III and units.

D.R. Horton said it will use proceeds for general corporate purposes, including acquisition, development and construction of new residential properties, acquisition of companies in homebuilding and related businesses and repayment of existing debt.

For the three months to Dec. 31, 2001, the company had an earnings to fixed charge ratio of 3.68 times compared to 3.16 times for the same period of 2000.

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