Media Contact:
Lynn Tellefsen
Director of Marketing & Communications
Phone: 212.701.3614
Fax: 212.378.2410
ltellefsen@cahill.com

Legal News

Cahill Represents Dealer Managers in Cash Tender Offers by PulteGroup

Date: 10/21/10

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.

Media Contact:
Lynn Tellefsen
Director of Marketing & Communications
Phone: 212.701.3614
Fax: 212.378.2410
ltellefsen@cahill.com