PR Newswire: news distribution, targeting and monitoring
See more news releases in Real Estate  | Construction & Building  | Stock Offering

Lennar Completes Note Exchange

Share with Twitter Share with LinkedIn

MIAMI, Jan. 17, 2013 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced today that it has completed an exchange of 4.75% Senior Notes due 2017 that have been registered under the Securities Act of 1933, as amended, for substantially identical 4.75% Senior Notes that were sold in July and August 2012 to qualified institutional buyers and non-US persons in transactions that were exempt from the registration requirements of the Securities Act.

$399,920,000 principal amount of 4.75% Senior Notes were tendered for exchange, including $6,541,000 principal amount that have not yet been received, but are the subject of delivery guarantees.  This is approximately 99.98% of the total of $400,000,000 principal amount of 4.75% Senior Notes that are outstanding.  Lennar has accepted all the 4.75% Senior Notes that were properly tendered and not withdrawn. 

Because the terms of the registered 4.75% Senior Notes are identical with those of the 4.75% Senior Notes for which they are being exchanged, the exchange will have no effect on the financial obligations of Lennar.

Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations.  The Company builds affordable, move-up and retirement homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of the Company's homes and others.  Lennar's Rialto Investments segment is focused on distressed real estate asset investments, asset management and workout strategies. Previous press releases and further information about the Company may be obtained at the "Investor Relations" section of the Company's website,  

SOURCE Lennar Corporation


Featured Video

Journalists and Bloggers

Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.

View and download archived video content distributed by MultiVu on The Digital Center.

Share with Twitter Share with LinkedIn

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.



PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.


Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.

Area to test

Online Member Center

Not a Member?
Click Here to Join
Search News Releases
Advanced Search
  1. PR Newswire Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
  5. Send a News Release