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KB Home Begins $250 Mln Senior Notes Offering - Quick Facts

KB Home (KBH) said it has commenced a public offering for $250 million in aggregate principal amount of senior notes. The company plans to apply all or a portion of the net proceeds from the senior notes offering toward the payment of the purchase price of notes validly tendered and accepted for purchase in its prior announced cash tender offers for up to $250 million in aggregate principal amount of its outstanding 53/4% Senior Notes due 2014 and of its 5?% Senior Notes due 2015 and 61/4% Senior Notes due 2015.

After such payment for the 2014/2015 Notes, KB Home intends to use any remaining net proceeds from the sale of the senior notes for general corporate purposes. Citigroup, Credit Suisse, BofA Merrill Lynch and Deutsche Bank Securities are acting as joint book-running managers for the senior notes offering.

Further, KB Home announced the expiration of the early tender period for its earlier announced cash tender offers for up to $250 million in aggregate principal amount of its 53/4% Senior Notes due 2014 and of its 5?% Senior Notes due 2015 and 61/4% Senior Notes due 2015, as of 5:00 p.m., New York City time, on January 31, 2012.

by RTT Staff Writer

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