The Real Deal Miami

Lennar to sell $527 million in debt securities

May 05, 2010 09:15AM

Miami-based Lennar has completed a deal to sell $526.5 million in debt
securities, $250 million of which are senior notes due in eight years,
with the remainder being convertible notes due in 10 years. According
to the company, it will use $200 million for purchases pursuant to a
tender offer it has started for several other notes it holds due in the
next one to three years. The balance of proceeds from the sale will go
toward “general corporate purposes,” like debt repayments or buying
back existing bonds. [SFBJ]