D.R. Horton Inc. has successfully completed a public offering of $500 million in aggregate principal amount of its 4.850% Senior Notes, which are due in 2030. The company received net proceeds of $496.7 million from the offering, after accounting for the underwriting discount. These notes are governed by a Senior Debt Securities Indenture, with Truist Bank serving as the trustee. Interest on the notes will accrue at an annual rate of 4.850%, with semi-annual payments scheduled on April 15 and October 15, starting from October 15, 2025. The notes are set to mature on October 15, 2030, but D.R. Horton retains the option to redeem them earlier under specific conditions. The notes are backed by guarantees from the company's homebuilding subsidiaries and are ranked as general unsecured obligations, maintaining a senior payment ranking to any future subordinated debt.
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