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Stock impact report

KB Home to Repay Senior Notes

KB Home (KBH) 
Last kb home earnings: 3/26 04:10 pm Check Earnings Report
US:NYSE Investor Relations: investor.kbhome.com
Company Research Source: Business Wire
LOS ANGELES--(BUSINESS WIRE)-- KB Home (NYSE: KBH) today announced that it plans to repay the entire $300 million in aggregate principal amount of its 7.25% Senior Notes due 2018 at their maturity on June 15, 2018 using internally generated cash. “The successful execution of our Returns-Focused Growth Plan is evident in the substantial operating cash flow we have generated, which has enabled us to make significant investments in land and development as well as meaningfully reduce our debt balance over the past two years,” said Jeffrey Mezger, chairman, president and chief executive officer. “With our planned retirement of the $300 million of senior notes due in June and our repayment of the $265 million in senior notes that matured in 2017, both using internally generated cash, we will have exceeded our 2019 debt reduction target of $250 million by more than two-fold. In addition, these debt repayments will r Show less Read more
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