Key Developments: Lennar Corp (LEN.N)

LEN.N on New York Stock Exchange

43.76USD
26 Dec 2014
Price Change (% chg)

$0.39 (+0.90%)
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$43.37
Open
$43.54
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$43.49
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$48.00
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Latest Key Developments (Source: Significant Developments)

Lennar Corp prices $350 mln of senior notes
Tuesday, 18 Nov 2014 04:58pm EST 

Lennar Corp:Says it has priced underwritten public offering of $350 mln of 4.50 pct Senior Notes due 2019.Plans to use net proceeds from the offering, which are estimated to be $347 million, for working capital and for general corporate purposes.Offering of Notes is expected to close on Nov. 25, 2014, subject to customary closing conditions.Notes will have an interest rate of 4.50 pct and will pay interest semi-annually on May 15 and Nov. 15, commencing May 15, 2015.J.P. Morgan Securities LLC, RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBS Securities Inc., BMO Capital Markets Corp.And UBS Securities LLC are acting as Joint Book-Running Managers in offering.PNC Capital Markets LLC and Comerica Securities, Inc. are acting as Co-Managers in the offering.  Full Article

Lennar Corp declares quarterly dividends
Thursday, 2 Oct 2014 04:38pm EDT 

Lennar Corp:Declares a quarterly cash dividend of $0.04 per share for both Class A and Class B common stock.Payable on Oct. 31 to holders of record at the close of business on Oct. 17.  Full Article

Lennar Corp declares quarterly dividends
Wednesday, 25 Jun 2014 04:30pm EDT 

Lennar Corp:Declares a quarterly cash dividend of $0.04 per share for both Class A and Class B common stock.Payable on July 24 to holders of record at the close of business on July 10.  Full Article

Lennar Corp declares quarterly dividends
Wednesday, 9 Apr 2014 04:30pm EDT 

Lennar Corp:Declares quarterly cash dividend of $0.04 per share for both Class A and Class B common stock payable on May 7 to holders of record at close of business on April 23.  Full Article

Lennar Corp's subsidiary Universal American Mortgage Company acquires certain assets of Pinnacle Mortgage Group, Inc.
Monday, 7 Apr 2014 08:46pm EDT 

Lennar Corp:Universal American Mortgage Company, the mortgage banking subsidiary of Lennar Corporation announced that it has acquired certain assets of Pinnacle Mortgage Group, Inc.Terms of the transaction were not disclosed.  Full Article

Lennar Corp prices $100 million of senior notes
Tuesday, 25 Feb 2014 05:37pm EST 

Lennar Corp:Says it has priced an underwritten public offering of $100 million of 4.50 pct Senior Notes due June 2019.The Notes are being sold at a public offering price of 100.50 pct of their principal amount.Plans to use the net proceeds from the offering, which are estimated to be $100 million, for working capital and for general corporate purposes.Had previously sold $400 million of 4.50 pct Senior Notes due June 2019 on Feb. 12.The sale of the $100 million of Notes is expected to close on Feb. 28, subject to customary closing conditions.The Notes have an interest rate of 4.50 pct and pay interest semi-annually on June 15 and December 15, commencing June 15, 2014.Citigroup Global Markets Inc. is acting as Sole Book-Running Manager in the offering.  Full Article

Lennar Corp prices $400 mln of senior notes
Wednesday, 5 Feb 2014 04:47pm EST 

Lennar Corp:Says it has priced an underwritten public offering of $400 mln of 4.50% Senior Notes due June 2019.Says it plans to use the net proceeds from the offering for working capital and for general corporate purposes.Says offering of the Notes is expected to close on Feb. 12, subject to customary closing conditions.Says Notes will have an interest rate of 4.50 pct and will pay interest semi-annually on June 15 and Dec. 15 commencing June 15.Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, BMO Capital Markets Corp. and UBS Securities LLC are acting as Joint Book-Running Managers in the offering.  Full Article

Lennar Corp declares quarterly dividends
Wednesday, 15 Jan 2014 04:38pm EST 

Lennar Corp:Declares a quarterly cash dividend of $0.04 per share for both Class A and Class B common stock payable on Feb. 13 to holders of record at the close of business on Jan. 30.  Full Article

Lennar Corp's Rialto Segment Announces Pricing of $250 Million Of Senior Notes
Friday, 8 Nov 2013 11:35am EST 

Lennar Corporation announced that its wholly-owned subsidiaries, Rialto Holdings, LLC ("Rialto") and Rialto Corporation, had priced an offering of $250 million of senior notes due 2018 (the "Notes"). When they are issued, the Notes will be guaranteed by all of Rialto's 100% owned subsidiaries, except any Rialto subsidiary that is a party to a warehouse facility, but those guarantees may be released under certain circumstances. Lennar expects the closing of the Notes to occur on November 14, 2013. The Notes will have an interest rate of 7% and will be issued at a price of 100% of their face value. Rialto intends to use the net proceeds from the offering of the Notes primarily to provide working capital to its subsidiary, Rialto Mortgage Finance, LLC, and for investments in funds or entities managed or advised by Rialto Capital Management, LLC or its subsidiaries. Rialto also intends to use a portion of the proceeds to repay sums previously advanced by Lennar. To the extent the proceeds are not used for these purposes, Rialto will use the proceeds for general corporate purposes.  Full Article

Lennar Corporation's Rialto Segment Proposes To Offer $250 Million of Senior Notes
Monday, 4 Nov 2013 11:06am EST 

Lennar Corporation announced that Rialto Holdings, LLC ("Rialto"), its wholly-owned subsidiary, proposes to offer $250 million principal amount of Senior Notes due 2018 (the "Notes") by Rialto and Rialto Corporation, a direct wholly-owned subsidiary of Rialto, in a private offering under SEC Rule 144A. Rialto intends to use the net proceeds from the offering of the Notes primarily to provide working capital to its subsidiary, Rialto Mortgage Finance, LLC, and for investments in funds or entities managed or advised by Rialto Capital Management LLC or its subsidiaries. Rialto also intends to use a portion of the proceeds to repay sums previously advanced by Lennar Corporation. To the extent the proceeds are not used for these purposes, Rialto will use the proceeds for general corporate purposes.  Full Article

U.S. states with warmer climate to drive homebuilder growth

- Homebuilders with a presence in the U.S. south and west are set to gain next year as more Americans swap the frozen north for warmer climes, drawn by some of the country's highest job growth rates.

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