KB Home (KBH) announced that it has commenced a public offering for $250 million in aggregate principal amount of senior notes.
The company noted that it intends 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 previously announced cash tender offers for any and all of its outstanding 53/4% Senior Notes due 2014, and up to $150 million in aggregate principal amount, less the amount accepted in the tender offer for the 2014 Notes, of its outstanding 5?% Senior Notes due 2015 and 61/4% Senior Notes due 2015.
The company noted that any remaining net proceeds will be used for general corporate purposes.
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