FORT WORTH, Texas--(BUSINESS WIRE)--March 15, 2007--D.R. Horton,
Inc. (NYSE:DHI), America's Builder, the largest homebuilder in the
United States, Thursday (March 15, 2007), announced that it is calling
all of its 8.5% Senior Notes due April 15, 2012 for full redemption on
April 15, 2007 in accordance with the terms of the indenture governing
the notes. The 8.5% Senior Notes will be redeemed at a redemption
price of $1,042.50 per $1,000 note outstanding, which will result in
an aggregate redemption price of approximately $260.6 million to be
paid on April 15, 2007. On April 15, 2007 accrued and unpaid
semi-annual interest of $42.50 per $1,000 note, approximately $10.6
million in the aggregate, will be paid to holders of record as of
April 1, 2007. 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 53,000 homes in its fiscal
year ended September 30, 2006. Founded in 1978 in Fort Worth, Texas,
D.R. Horton has expanded its presence to include 85 markets in 27
states in the Northeast, Southeast, South Central, Southwest,
California and West 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.
WEBSITE ADDRESS: www.drhorton.com
CONTACT: D.R. Horton, Inc.
Stacey Dwyer, EVP, 817-390-8200
SOURCE: D.R. Horton, Inc.
