RESTON, Va., Sept. 15, 2020 /PRNewswire/ -- NVR, Inc.
(NYSE: NVR), one of the nation's largest homebuilding
companies, announced the pricing of its public offering of an
additional $50 million aggregate
principal amount of its 3.000% senior notes due 2030. The
public offering price for the notes was 108.331% of the principal
amount (plus accrued interest from May 4,
2020) for a re-offer yield of 2.000%. The notes will
constitute a further issuance of, and form a single series with,
NVR's outstanding 3.000% senior notes due 2030 issued on
May 4, 2020 in the aggregate
principal amount of $600 million and
September 9, 2020 in the aggregate
principal amount of $250
million. The closing of the offering is expected to
occur on September 17, 2020, subject
to customary closing conditions. NVR will use the net proceeds from
the offering for general corporate purposes.
The offering is being made pursuant to an automatic shelf
registration statement, including a prospectus, filed with the
Securities and Exchange Commission ("SEC") on April 30, 2020 and a related preliminary
prospectus supplement filed with the SEC on September 15, 2020.
Credit Suisse Securities (USA)
LLC is serving as the book-running manager for the offering.
The offering may be made only by means of the prospectus
supplement and accompanying prospectus. You may obtain a copy
of the prospectus, the preliminary prospectus supplement and the
final prospectus supplement, when available, for free by visiting
EDGAR on the SEC's website at www.sec.gov. Alternatively, copies of
any of those documents may be obtained from Credit Suisse
Securities (USA) LLC at
Attention: Credit Suisse Prospectus Department, Eleven
Madison Avenue, New York, New York
10010 or by calling toll-free 1-800-221-1037 or by emailing:
usa.prospectus@credit-suisse.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any jurisdiction.
About NVR
NVR, Inc. operates in two business segments: homebuilding
and mortgage banking. The homebuilding segment sells and
builds homes under the Ryan Homes, NVHomes, and Heartland Homes
trade names, and operates in thirty-two metropolitan areas in
fourteen states and Washington,
D.C.
Forward-Looking Statements
Some of the statements in this release made by NVR constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Certain, but not
necessarily all, of such forward-looking statements can be
identified by the use of forward-looking terminology, such as
"believes," "expects," "may," "will," "should" or "anticipates" or
the negative thereof or other comparable terminology. All
statements other than of historical facts are forward-looking
statements. Forward-looking statements contained in this
document may include those regarding market trends, NVR's financial
position and financial results, business strategy, the outcome of
pending litigation, investigations or similar contingencies,
projected plans and objectives of management for future
operations. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual results or performance of NVR to be materially different
from future results, performance or achievements expressed or
implied by the forward-looking statements. Such risk factors
include, but are not limited to the following: the impact of
COVID-19 on us and the economy generally; general economic and
business conditions (on both a national and regional level);
interest rate changes; access to suitable financing by NVR and
NVR's customers; increased regulation in the mortgage banking
industry; the ability of our mortgage banking subsidiary to sell
loans it originates into the secondary market; competition; the
availability and cost of land and other raw materials used by NVR
in its homebuilding operations; shortages of labor; weather related
slow-downs; building moratoriums; governmental regulation;
fluctuation and volatility of stock and other financial markets;
mortgage financing availability; and other factors over which NVR
has little or no control. NVR undertakes no obligation to
update such forward-looking statements except as required by
law.
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SOURCE NVR, Inc.