D.R. Horton Announces Underwritten Public Offering of $700 Million in Senior Notes

D.R. Horton, Inc. announced on February 19, 2025, that the company and its associated Guarantors entered into an underwriting agreement with Mizuho Securities USA LLC, J.P. Morgan Securities LLC, and TD Securities (USA) LLC for an underwritten public offering of its 5.500% Senior Notes due 2035. The offering, which totals an aggregate principal amount of $700 million, is registered under the Securities Act through a registration statement on Form S-3 (File No. 333-280982) that includes both D.R. Horton and selected direct and indirect wholly-owned subsidiaries (the Guarantors).

The prospectus supplement, filed on February 21, 2025, pursuant to Rule 424(b) of the Securities Act, details the terms of the offering. The transaction is expected to close on February 26, 2025, pending the satisfaction of customary closing conditions.

The newly issued Senior Notes will be governed by an Indenture established with Truist Bank acting as the trustee. This framework is set forth under the terms of an original Indenture dated October 10, 2019, and its subsequent amendment outlined in the forthcoming Seventh Supplemental Indenture, to be executed on February 26, 2025. In addition, several related legal opinions have been included in the filing as part of Exhibits 5.1 and 5.2, with corresponding consents also attached.

The completed transaction is expected to provide D.R. Horton with enhanced financial flexibility, reinforcing its ongoing strategy and operational plans. Further details regarding the offering, including the form of the Senior Notes and the terms of the supplemental indenture, are contained within the related exhibits filed with the Securities and Exchange Commission.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read D.R. Horton’s 8K filing here.

About D.R. Horton

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D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.

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