ARLINGTON, Texas, April 11 /PRNewswire-FirstCall/ -- D.R. Horton, Inc.
(NYSE: DHI) Friday (April 11, 2003), announced that it plans to sell
$150 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 proceeds from this offering to
call the approximately $148.5 million outstanding principal amount of its 10%
senior notes due 2006.
The proposed offering will be led by Salomon Smith Barney and Banc of
America Securities LLC. When available, a prospectus supplement relating to
this proposed offering may be obtained from Salomon Smith Barney, Attention:
High Yield Capital Markets, 388 Greenwich Street, New York, New York, or from
Banc of America Securities LLC, Attention: High Yield Capital Markets, 9 West
57th Street, 31st Floor, New York, New York.
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 under the D.R.
Horton, Arappco, Cambridge, Continental, Dietz-Crane, Dobson, Emerald, Melody,
Milburn, Schuler, SGS Communities, Stafford, Torrey, Trimark, and Western
Pacific names in 20 states and 44 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.
