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D.R. Horton buys back $345.2 million notes in Q3, $53.3 million after
By Susanna Moon
Chicago, Aug. 3 - D.R. Horton, Inc. said it repurchased $345.2 million principal amount of its outstanding senior notes during the third quarter, resulting in $8.3 million of loss on early retirement of debt.
Fiscal year-to-date homebuilding debt repurchases and redemptions total $883.6 million, according to the company's earnings release for the third quarter ended June 30.
Since June 30, the company repurchased a further $53.3 million principal amount of its outstanding senior notes.
"Our balance sheet remains strong with homebuilding cash and marketable securities of $1.7 billion and net homebuilding leverage improving to 17.5%," Donald R. Horton, chairman of the board, said in the release.
"Including our debt repurchases subsequent to quarter-end and the scheduled maturities in September, our total principal repayments in fiscal 2010 will be more than $1 billion."
D.R. Horton is a Fort Worth-based homebuilder.
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