ARLINGTON, Texas, Nov. 22 /PRNewswire-FirstCall/ --
D. R. Horton, Inc. (NYSE: DHI) Friday (November 22, 2002), 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 proceeds from this
offering to repay indebtedness outstanding under its revolving credit
facility.
The proposed offering will be led by Banc of America Securities LLC and,
when available, a prospectus supplement relating to this proposed offering may
be obtained 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, Regency, 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; changes in income tax laws
affecting mortgage interest deductibility; 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
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.
Make Your Opinion Count - Click Here
http://tbutton.prnewswire.com/prn/11690X13871326
SOURCE D.R. Horton, Inc.
