Key Developments: KB Home (KBH)

KBH on New York Consolidated

16.37USD
17 Apr 2014
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Latest Key Developments (Source: Significant Developments)

KB Home acquires 500 Lots at Patterson Ranch in Fremont
Thursday, 10 Apr 2014 11:00am EDT 

KB Home:Plans for new home community in city of Fremont called Patterson Ranch.Will offer about 500 new single-family homes on property, which will also include 15 acres of parks and open space, a community center, and an urban farm that reflects the site's agrarian history.Land development has commenced at fully-entitled property, with model homes expected to open by spring of 2015.  Full Article

KB Home declares quarterly cash dividend
Thursday, 3 Apr 2014 02:43pm EDT 

KB Home:Declares quarterly cash dividend of $.025 per share.Payable on May 15 to stockholders of record on May 1.  Full Article

KB Home announces pricing of concurrent underwritten public offerings of 6.9 million shares of common stock and upsized $400.0 million of senior notes
Thursday, 20 Mar 2014 08:09pm EDT 

KB Home:Agrees to sell aggregate of 6,944,445 shares of common stock at public offering price of $18.00 per share (or up to 7,986,111 shares if underwriters' option to purchase additional shares is exercised in full) and $400.0 million in aggregate principal amount of senior notes due 2019.Size of senior notes offering was increased to $400.0 million from the previously announced $300.0 million.Senior notes will bear interest at rate of 4.75 pct. per annum and will be issued at a public offering price of 100.0 pct.Estimates aggregate net proceeds from concurrent offerings to be about $513.3 million (assuming no exercise of the underwriters' option to purchase additional shares of common stock), after deducting the underwriting discount and estimated offering expenses payable by KB Home.Intends to use net proceeds from both offerings for general corporate purposes, including without limitation land acquisition and land development.Closing of both offerings is expected to occur on March 25.Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, BofA Merrill Lynch and Deutsche Bank Securities Inc. are acting joint book-running managers for offerings.  Full Article

KB Home proposes offering senior unsecured notes
Thursday, 20 Mar 2014 09:43am EDT 

KB Home:Proposes offering of $300 mln of senior unsecured notes due March 2019.The new issue will be equal in right of payment with all other senior unsecured debt.Intends to use proceeds of these issuances for general corporate purposes, including land acquisitions and development.  Full Article

KB Home announces proposed concurrent underwritten public offerings of common stock and senior notes of $425.0 mln in the aggregate
Wednesday, 19 Mar 2014 04:23pm EDT 

KB Home:Commence concurrent underwritten public offerings of $125.0 mln of common stock.$300.0 mln in aggregate principal amount of senior notes due 2019.Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, BofA Merrill Lynch and Deutsche Bank Securities Inc. will act as joint book-running managers for the proposed offerings.Intends to use the net proceeds from both offerings for general corporate purposes.  Full Article

KB Home declares first quarter 2014 dividend
Thursday, 23 Jan 2014 03:11pm EST 

KB Home:Says it has declared a quarterly cash dividend of $.025 per share on the company's common stock, payable on Feb. 20 to stockholders of record on Feb. 6.  Full Article

KB Home Announces Upsizing And Pricing Of Senior Notes Due 2021
Tuesday, 15 Oct 2013 05:54pm EDT 

KB Home announced that it has upsized and priced an offering of $450 million in aggregate principal amount of senior notes due 2021 (the 2021 Senior Notes). The size of the offering was increased to $450 million from the previously announced $350 million. The 2021 Senior Notes will bear interest at a rate of 7.0% per annum and will be issued at a public offering price of 100% of their face amount. The Company expects to close the 2021 Senior Notes offering on October 29, 2013, subject to the satisfaction of customary closing conditions. KB Home intends to apply a portion of the net proceeds from the senior notes offering toward the payment of the purchase price of notes validly tendered and accepted for purchase in its previously announced cash tender offers for any and all of its outstanding 5¾% Senior Notes due 2014 (the "2014 Notes"), any and all of its outstanding 5⅞% Senior Notes due 2015 (the "5⅞% 2015 Notes", and together with the 2014 Notes, the "Redeemable Notes"), and up to $37.0 million in aggregate principal amount of its outstanding 6¼% Senior Notes due 2015, including the payment of unpaid interest and any applicable early tender premiums offered for each series of notes pursuant to the terms of the tender offers and at KB Home`s option, the redemption of any Redeemable Notes not purchased in the tender offers. The remaining net proceeds will be used for general corporate purposes.  Full Article

KB Home Announces Offering of Senior Notes
Tuesday, 15 Oct 2013 07:37am EDT 

KB Home announced that it has commenced a public offering for $350 million in aggregate principal amount of senior notes due 2021. Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are acting as joint book-running managers for the notes offering. KB Home intends to apply a portion of the net proceeds from the senior notes offering toward (i) the payment of the purchase price of notes validly tendered and accepted for purchase in cash tender offers for any and all of its outstanding 5¾% Senior Notes due 2014, any and all of its outstanding 5⅞% Senior Notes due 2015, and up to $37.0 million in aggregate principal amount of its outstanding 6¼% Senior Notes due 2015, including the payment of unpaid interest and any applicable early tender premiums offered for each series of notes pursuant to the terms of the tender offers and (ii) at KB Home's option, the redemption of any Redeemable Notes not purchased in the tender offers. The remaining net proceeds will be used for general corporate purposes.  Full Article

KB Home Declares Fourth Quarter 2013 Dividend
Thursday, 10 Oct 2013 01:42pm EDT 

KB Home announced that it has declared a quarterly cash dividend of $.025 per share on the Company's common stock, payable on November 21, 2013 to stockholders of record on November 7, 2013.  Full Article

KB Home Announces Acquisition Of Property; To Construct Mid-Rise Luxury Condo Building in San Francisco
Tuesday, 1 Oct 2013 09:32am EDT 

KB Home announced that it has acquired property at 72 Townsend in San Francisco and has started construction on a anticipated nine-story glass and steel frame luxury condominium building. Located in the heart of San Francisco`s sought-after South Beach/SOMA district, the 74-unit building will provide its residents a lifestyle to any other location the city has to offer.  Full Article

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Higher California prices drives KB Home profit, spark sector rally

- KB Home , the No. 5 U.S. homebuilder, reported a first-quarter profit for the first time since 2007 as it sold homes at higher prices in California, its largest market, and indicated towards a strong spring selling season.

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