BLOOMFIELD HILLS, Mich.,
Feb. 21, 2014 /PRNewswire/ --
PulteGroup, Inc. (NYSE: PHM) announced today that it will redeem
all of its outstanding 7.375% notes due June
1, 2046 (NYSE: PHA) (CUSIP No. 745867200) (the "Redeemed
Notes"). The redemption will occur on March 26, 2014 and will be funded from the
Company's available cash balances. The redemption price will
be 100 percent of the principal amount of the Redeemed Notes
($25 per senior note), plus accrued
and unpaid interest up to, but excluding, the redemption date, of
$0.122917 per note. The
aggregate principal amount of Redeemed Notes currently outstanding
is $150 million.
Beneficial holders of the Redeemed Notes should direct any
questions to their respective brokerage firm or financial
institution which holds interests in the Redeemed Notes on their
behalf.
The Bank of New York Mellon Trust Company is the trustee and
paying agent with respect to the Redeemed Notes.
This redemption is being made in accordance with the indenture
governing the Redeemed Notes and terms of the Redeemed Notes.
Forward-Looking Statements
This press release includes "forward-looking statements."
These statements are subject to a number of risks, uncertainties
and other factors that could cause our actual results, performance,
prospects or opportunities, as well as those of the markets we
serve or intend to serve, to differ materially from those expressed
in, or implied by, these statements. You can identify these
statements by the fact that they do not relate to matters of a
strictly factual or historical nature and generally discuss or
relate to forecasts, estimates or other expectations regarding
future events. Generally, the words "believe," "expect,"
"intend," "estimate," "anticipate," "project," "may," "can,"
"could," "might," "will" and similar expressions identify
forward-looking statements, including statements related to
expected operating and performing results, planned transactions,
planned objectives of management, future developments or conditions
in the industries in which we participate and other trends,
developments and uncertainties that may affect our business in the
future.
Such risks, uncertainties and other factors include, among other
things: interest rate changes and the availability of mortgage
financing; continued volatility in the debt and equity markets;
competition within the industries in which PulteGroup operates; the
availability and cost of land and other raw materials used by
PulteGroup in its homebuilding operations; the impact of any
changes to our strategy in responding to the cyclical nature of the
industry, including any changes regarding our land positions; the
availability and cost of insurance covering risks associated with
PulteGroup's businesses; shortages and the cost of labor; weather
related slowdowns; slow growth initiatives and/or local building
moratoria; governmental regulation directed at or affecting the
housing market, the homebuilding industry or construction
activities; uncertainty in the mortgage lending industry, including
revisions to underwriting standards and repurchase requirements
associated with the sale of mortgage loans; the interpretation of
or changes to tax, labor and environmental laws; economic changes
nationally or in PulteGroup's local markets, including inflation,
deflation, changes in consumer confidence and preferences and the
state of the market for homes in general; legal or regulatory
proceedings or claims; required accounting changes; terrorist acts
and other acts of war; and other factors of national, regional and
global scale, including those of a political, economic, business
and competitive nature. See PulteGroup's Annual Report on
Form 10-K for the fiscal year ended December
31, 2013, and other public filings with the Securities and
Exchange Commission (the "SEC") for a further discussion of these
and other risks and uncertainties applicable to our
businesses. PulteGroup undertakes no duty to update any
forward-looking statement, whether as a result of new information,
future events or changes in PulteGroup's expectations.
About PulteGroup
PulteGroup, Inc. (NYSE: PHM), based in Bloomfield Hills, Mich., is one of America's
largest homebuilding companies with operations in approximately 50
markets throughout the country. Through its brand portfolio
that includes Centex, Pulte Homes, Del
Webb and DiVosta Homes, the Company is one of the industry's
most versatile homebuilders able to meet the needs of multiple
buyer groups and respond to changing consumer demand.
PulteGroup conducts extensive research to provide homebuyers with
innovative solutions and consumer inspired homes and communities to
make lives better.
For more information about PulteGroup, Inc. and PulteGroup
brands, go to www.pultegroupinc.com;
www.pulte.com; www.centex.com; www.delwebb.com and
www.divosta.com.
SOURCE PulteGroup, Inc.