PulteGroup, Inc. (ticker: PHM, exchange: New York Stock Exchange (.N))
News Release -
19-May-2003
Pulte Homes Sells $400 Million in Senior NotesBLOOMFIELD HILLS, Mich., May 19, 2003 (BUSINESS WIRE) -- Pulte Homes (NYSE:PHM)
announced today that it priced, to the public, $400 million in Senior Notes due
2033 with a coupon rate of 6.375 percent. The Senior Notes were priced at
$994.46 per $1,000 face amount to yield 197 basis points over the comparable
treasury security. Net proceeds from the sale of the Senior Notes will be used
for general corporate purposes, including the retirement of more than $195
million of previously issued notes over the next twelve months. "With the continued growth and success of our operations, we are finding an
increased appreciation for Pulte Homes within the debt markets," said Roger A.
Cregg, Executive Vice President and Chief Financial Officer for the Company.
"Proceeds from this offering will give Pulte Homes added flexibility as we
continue to expand our share of the domestic new home market." The lead underwriters for the offering were Banc One Capital Markets, Bank of
America Securities, and Salomon Smith Barney, all acting as co-lead managers for
the sale. About Pulte Homes Pulte Homes, Inc., (www.pulte.com) based in Bloomfield Hills, Michigan, has
operations in 44 markets across the United States. Under its Del Webb
(www.delwebb.com) brand, the Company is also the nation's leading builder of
active adult communities for people age 55 and older. Over its history, the
Company has constructed more than 330,000 homes and has been named Builder of
the Year for 2002 by Professional Builder magazine. Pulte Mortgage LLC is a
nationwide lender committed to meeting the financing needs of Pulte Homes'
customers by offering a wide variety of loan products and superior customer
service. /Web site: http://www.pulte.com/ SOURCE: Pulte Homes, Inc.
CONTACT: Pulte Homes, Inc., Bloomfield Hills
Valerie Dolenga, 248/433-4633
valerie.dolenga@pulte.com
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