ARLINGTON, Texas, Jan. 6 /PRNewswire-FirstCall/ -- D.R. Horton, Inc.
(NYSE: DHI) Tuesday (January 6, 2004), announced that it plans to sell
$200 million of senior notes in a registered offering under its effective
shelf registration statement on file with the U.S. Securities and Exchange
Commission. D.R. Horton expects to use the majority of the proceeds from this
offering to redeem the $150 million 8 3/8% senior notes scheduled to mature on
June 15, 2004.
The proposed offering will be led by Citigroup Global Markets, Inc. When
available, a prospectus supplement relating to this proposed offering may be
obtained from Citigroup Global Markets, Inc., 140 58th Street, Brooklyn, NY
11220.
This press release shall not constitute an offer to sell or a solicitation
of an offer to buy the senior notes, nor shall there be any sale of these
senior notes in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful.
Founded in 1978, D.R. Horton, Inc. is engaged in the construction and sale
of high quality homes designed principally for the entry-level and first time
move-up markets. D.R. Horton currently builds and sells homes in 20 states
and 47 markets, with a geographic presence in the Midwest, Mid-Atlantic,
Southeast, Southwest and Western regions of the United States. The Company
also provides mortgage financing and title services for homebuyers through its
mortgage and title subsidiaries.
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. 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: changes in general economic, real estate and business conditions;
changes in interest rates and the availability of mortgage financing;
governmental regulations and environmental matters; the Company's substantial
leverage; competitive conditions within the industry; the availability of
capital to the Company on favorable terms; the Company's ability to integrate
its acquisitions and successfully effect the cost savings, operating
efficiencies and revenue enhancements that are believed available and
otherwise to successfully effect its other growth strategies. 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 most recent
quarterly reports on Form 10-Q, which are filed with the Securities and
Exchange Commission.
WEBSITE ADDRESS: http://www.DRHORTON.com
SOURCE D.R. Horton, Inc.
