By Paul Deckelman
New York, July 7 - D.R. Horton Inc. priced a $200 million offering of 10-year 6 1/8% notes at 98.593 to yield 6.324%, according to syndicate sources.
The off-the-shelf deal was brought to market by sole bookrunning manager Citigroup Global Markets.
The quickly shopped issue by the Arlington, Tex.-based homebuilder priced late Tuesday.
The company plans to use the proceeds of the offering to repay credit facility borrowings.
Issuer: D.R. Horton Inc.
| Amount: | $200 million
|
| Security type: | Notes
|
| Maturity: | January 15, 2014
|
| Bookrunner: | Citigroup Global Markets
|
| Coupon: | 6 1/8%
|
| Price: | 98.593
|
| Yield: | 6.324%
|
| Spread: | 185 basis points over Treasuries
|
| Call: | Non-callable
|
| Equity clawback: | None
|
| Ratings: | Moody's: Ba1
|
| S&P: BB+
|
| Settlement: | July 12
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
