FORT WORTH, Texas, Feb 13, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- D.R. Horton, Inc.
(NYSE: DHI), America's Builder, the largest homebuilder in the United States,
Monday (February 13, 2006), announced that it is calling all of its 9.375%
Senior Subordinated Notes due March 15, 2011 for full redemption on
March 15, 2006 in accordance with the terms of the indenture governing the
notes. The 9.375% Senior Subordinated Notes will be redeemed at a redemption
price of $1,046.88 per $1,000 note outstanding, which will result in an
aggregate redemption price of approximately $209.4 million to be paid on
March 15, 2006. On March 15, 2006 accrued and unpaid semi-annual interest of
$46.875 per $1,000 note, approximately $9.4 million in the aggregate, will be
paid to holders of record as of March 1, 2006. Holders of the notes will
receive by mail a Notice of Full Redemption setting forth the redemption
procedures.
D.R. Horton, Inc., America's Builder, is the largest homebuilder in the
United States, delivering more than 51,000 homes in its fiscal year ended
September 30, 2005. Founded in 1978 in Fort Worth, Texas, D.R. Horton has
expanded its presence to include 77 markets in 26 states in the Mid-Atlantic,
Midwest, Southeast, Southwest and Western regions of the United States. The
Company is engaged in the construction and sale of high quality homes with
sales prices ranging from $90,000 to $900,000. D.R. Horton also provides
mortgage financing and title services for homebuyers through its mortgage and
title subsidiaries.
http://www.DRHORTON.com
SOURCE D.R. Horton, Inc.
Bill W. Wheat, EVP & CFO of D.R. Horton, Inc., +1-817-390-8200
