Cahill Represents Dealer Managers in Cash Tender Offers by PulteGroup

October 21, 2010

Cahill represented Barclays Capital, BNP Paribas Securities Corp. and RBS Securities as dealer managers in connection with cash tender offers by leading homebuilder PulteGroup, Inc. to repurchase up to $500 million of debt for six series of notes maturing between 2013 and 2015. The notes were issued by Pulte and Centex Homes; Centex was acquired by Pulte in 2009.

The tender offers resulted in the tender and acceptance for purchase of approximately $500,000,000 of notes, comprised of: (1) $162,471,000 of 6.25% Notes due 2013 issued by PulteGroup and $104,749,000 of 5.125% Notes due 2013 issued by Centex, pursuant to an "Any and All Offer," (2) $128,077,000 of 5.25% Notes due 2014 by PulteGroup and $31,329,000 of 5.7% Notes due 2014 issued by Centex , pursuant to "the Maximum Tender Offer", and (3) $47,838,000 of 5.2% Notes due 2015 issued by PulteGroup and $25,536,000 of 5.25% Notes due 2015 issued by Centex pursuant to a "Dutch Auction." Proceeds will be used to reduce PulteGroup's debt and interest expenses.