Lennar Homes of Oklahoma, LLC Form 424B5 — Oct 14, 2026
Lennar Corporation priced a $600 million dual-tranche senior unsecured notes offering on October 15, 2026: $300 million of 5.700% notes due October 2029 and $300 million of 5.950% notes due January 2032, sold at 99.929% and 99.948% of par respectively. Estimated net proceeds are approximately $594.5 million after underwriting discounts, earmarked for general corporate purposes. The Notes rank pari passu with $1.74 billion of existing senior notes and carry a 101% change-of-control put, guaranteed by Lennar's wholly-owned subsidiaries that guarantee its credit facilities.
Key figures
- Debt Amount
- 600000000
- Interest Rate
- 5.700% (2029 Notes) / 5.950% (2032 Notes)
- Maturity Date
- October 15, 2029 (2029 Notes); January 15, 2032 (2032 Notes)
- Gross Proceeds
- 594500000
- Homesites owned
- approximately 2% owned, 98% controlled via options
- Q3 2026 deliveries
- 20840
- Q3 2026 new orders
- 20879
- Q3 2026 gross margin
- 15.8%
- Q3 2026 net earnings
- $284 million ($1.19 per share)
- Public offering price
- 99.929% (2029 Notes); 99.948% (2032 Notes)
- Subsidiary debt aug 2026
- $1.93 billion including $1.76 billion secured
- Change of control put price
- 101% of principal
- Existing senior notes outstanding
- $1.74 billion
- Total homebuilding revenue fy2025
- $32 billion (~94% of consolidated revenues)
AI analysis
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