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Investing

Homebuilder Kicks Off $250 Million Debt Offer (KBH)

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By Paul Ausick Published
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Last month homebuilder KB Home (NYSE: KBH) launched a tender offer to redeem notes due in 2014 and 2015, saying it would accept up to $100 million in requests to buy back the 2014 notes. To date, the company has received valid tenders totalling $56.3 million for the 2014 and total tenders valued at $423.8 million.

To pay for the redemptions, KB is today launching a $250 million debt offering to pay for the claims.

Somehow, KB shares are up nearly 3% this morning at $9.28 in a 52-week range of $5.02-$15.30. Hope springs eternal, but it’s not a strategy.

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Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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