Pulte Homes starts tender offer for 4 7/8% notes due 2009

By Susanna Moon

Chicago, May 13 - Pulte Homes, Inc. said it began a cash tender offer for any and all of its outstanding 4 7/8% senior notes due 2009.

The tender offer will expire at midnight ET on June 10. The early tender date is May 27.

Payout will be par for each $1,000 principal amount of notes tendered by the early tender date.

Holders will receive $970 for notes tendered after the early date and by the expiration date.

The early settlement date is expected to be May 29.

Deutsche Bank Securities Inc. (866 627-0391 or collect 212 250-2955), Banc of America Securities LLC (866 475-9886 or collect 704 386-3244) and BNP Paribas Securities Corp. (800 854-5674 or collect 212 834-4533) are lead dealer managers. Global Bondholder Services Corp. (866 952-2200) is the information agent.

Pulte is a homebuilder based in Bloomfield Hills, Mich.

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