D.R. Horton calls all $246 million 9 3/8% senior notes due 2009 on July 15

By Jennifer Chiou

New York, June 3 - D.R. Horton, Inc. announced Friday the redemption of all $246 million of its 9 3/8% senior notes due 2009 on July 15 at a price of $1,046.88 per $1,000.

D.R. Horton will pay accrued and unpaid semiannual interest of $11 million or $46.875 per $1,000 note to holders of record as of July 1.

The company assumed the notes in its February 2002 merger with original issuer Schuler Homes, Inc.

D.R. Horton, based in Fort Worth, Texas, is the United States' largest homebuilder.

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