D.R. Horton issues $700M of 5.000% Senior Notes due 2034; net proceeds $688.5M

HORTON D R INC /DE/

Interest rate 5.000% per annum, payable semi-annually on April 15 and October 15 starting April 2025.
Notes mature October 15, 2034; callable at any time, make-whole prior to July 15, 2034 at T+20 bps.
Guaranteed by substantially all homebuilding subsidiaries; listed on NYSE.
Change of control triggered at 101% of principal plus accrued interest if combined with ratings downgrade.
Net proceeds after underwriting discount: $688.5 million.

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