Lennar Proposes To Sell $350 Million Of Senior Notes
MIAMI, Oct. 18, 2012
MIAMI, Oct. 18, 2012 /PRNewswire/ --Lennar Corporation (NYSE: LEN and LEN.B),
announced that it proposes to offer $350 million principal amount of a new
issue of Senior Notes due 2022 in a private offering under SEC Rule 144A. The
Senior Notes will be offered only to qualified institutional buyers in
transactions that are exempt from the registration requirements of the
Securities Act of 1933, as amended, under SEC Rule 144A or to non-US persons
in offshore transactions as that term is defined in SEC Regulation S.
The Senior Notes will mature onNovember 15, 2022, unless they are redeemed or
repurchased before that date. When they are issued, the Senior Notes will be
guaranteed by some of Lennar's subsidiaries, but those guarantees may be
suspended or released under certain circumstances.
Lennar said that it plans to use the net proceeds of the sale of the Senior
Notes primarily for working capital and general corporate purposes, which may
includethe repayment or repurchase of some of its outstanding senior notes or
Neither the Senior Notes nor the guarantees of them will be registered under
the Securities Act of 1933, as amended. The Senior Notes may not be offered or
sold in the United States absent registration or an applicable exemption from
the registration requirements of that Act.
This press release does not constitute an offer to sell or a solicitation of
an offer to buy the Senior Notes in any jurisdiction in which such an offer or
sale would be unlawful. It is issued pursuant to Rule 135c under the
Securities Act of 1933, as amended.
SOURCE Lennar Corporation
Contact: Diane Bessette, Vice President and Treasurer Lennar Corporation,
Press spacebar to pause and continue. Press esc to stop.