Centex to redeem $210.87 million 5.7% senior notes due 2014 in full

By Tali David

Minneapolis, April 25 - Centex Corp. plans to redeem all $210,868,000 of its 5.7% senior notes due May 15, 2014, according to a notice.

The bonds will be redeemed on May 24 at a redemption price equal to the greater of (a) 100% of the principal amount of the notes to be redeemed and (b) the sum of the present values of the remaining scheduled payments of principal and interest, discounted to the redemption date on a semiannual basis, at the applicable Treasury Rate plus 25 basis points, plus any accrued interest to the redemption date.

U.S. Bank NA is the trustee.

Centex is a subsidiary of PulteGroup, Inc., a Bloomfield Hills, Mich.-based homebuilder.

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