D.R. Horton, Inc., America’s Builder, Announces Pricing of Senior Notes

  D.R. Horton, Inc., America’s Builder, Announces Pricing of Senior Notes

Business Wire

FORT WORTH, Texas -- January 30, 2013

D.R. Horton, Inc. (NYSE:DHI), America’s Builder, announced that it has priced
a registered underwritten public offering of $400 million aggregate principal
amount of 3.625% senior notes due 2018 and $300 million aggregate principal
amount of 4.75% senior notes due 2023. The senior notes due 2018 will pay
interest semi-annually at a rate of 3.625% per year and will mature on
February 15, 2018. The senior notes due 2023 will pay interest semi-annually
at a rate of 4.75% per year and will mature on February 15, 2023. The closing
of the offering is expected to occur on February 5, 2013, subject to customary
closing conditions. D.R. Horton will use the net proceeds of the offering for
general corporate purposes.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Deutsche Bank
Securities Inc., RBS Securities Inc., UBS Securities LLC and Wells Fargo
Securities, LLC acted as Joint Book-Running Managers in the transaction.

The Company has filed a registration statement (including a prospectus
supplement) with the Securities and Exchange Commission (SEC) for the offering
to which this press release relates. Copies of the preliminary prospectus
supplement, the accompanying prospectus and when available, the final
prospectus supplement, may be obtained by visiting EDGAR on the SEC's web site
at www.sec.gov, by contacting J.P. Morgan Securities LLC by telephone at (800)
245-8812 or at the following address: J.P. Morgan Securities LLC, Attn: High
Yield Syndicate, 383 Madison Avenue, 3rd Floor, New York, NY 10179.

This press release shall not constitute an offer to sell or a solicitation of
an offer to buy these senior notes, nor shall there be any offer, solicitation
or sale of these senior notes in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful. The senior notes offering is
being made only by means of the prospectus supplement and accompanying
prospectus.

Portions of this document may constitute “forward-looking statements” as
defined by the Private Securities Litigation Reform Act of 1995. Although D.R.
Horton believes any such statements are based on reasonable assumptions, there
is no assurance that actual outcomes will not be materially different. All
forward-looking statements are based upon information available to D.R. Horton
on the date this release was issued. D.R. Horton does not undertake any
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. The
forward-looking statements include that the closing of the offering is
expected to occur on February 5, 2013, subject to customary closing
conditions, and that D.R. Horton will use the net proceeds of the offering for
general corporate purposes.

Factors that may cause the actual results to be materially different from the
future results expressed by the forward-looking statements include, but are
not limited to: potential deterioration in homebuilding industry conditions
and the current weak U.S. economy; the cyclical nature of the homebuilding
industry and changes in general economic, real estate and other conditions;
constriction of the credit markets, which could limit our ability to access
capital and increase our costs of capital; reductions in the availability of
mortgage financing and the liquidity provided by government-sponsored
enterprises, the effects of government programs, a decrease in our ability to
sell mortgage loans on attractive terms or an increase in mortgage interest
rates; the risks associated with our land and lot inventory; home warranty and
construction defect claims; supply shortages and other risks for acquiring
land, building materials and skilled labor; reductions in the availability of
performance bonds; increases in the costs of owning a home; the effects of
governmental regulations and environmental matters on our homebuilding
operations; the effects of governmental regulation on our financial services
operations; our debt obligations and our ability to comply with related debt
covenants, restrictions and limitations; competitive conditions within the
homebuilding and financial services industries; our ability to effect any
future growth strategies successfully; the impact of an inflationary or
deflationary environment; our ability to realize the full amount of our
deferred income tax asset; and information technology failures and data
security breaches. Additional information about issues that could lead to
material changes in performance is contained in D.R. Horton’s annual report on
Form 10-K and our most recent quarterly report on Form 10-Q, both of which are
filed with the Securities and Exchange Commission.

                      WEBSITE ADDRESS: www.drhorton.com

Contact:

D.R. Horton, Inc.
Jessica Hansen, 817-390-8200
Vice President of Communications