8-KOther Events

HORTON D R INC /DE/ 8-K Report (May 14, 2001)

Filed May 14, 2001For Securities:DHI

Summary

This Form 8-K filing by D.R. Horton, Inc. (DHI) on May 14, 2001, reports the execution of the Eleventh Supplemental Indenture for its Zero Coupon Convertible Senior Notes Due 2021. This indenture, dated May 11, 2001, outlines the terms and conditions related to these notes, including the involvement of guarantors and American Stock Transfer & Trust Company as Trustee. Additionally, the filing includes an opinion from Gibson, Dunn & Crutcher LLP regarding certain U.S. federal income tax matters associated with these notes. For investors holding or considering these convertible senior notes, understanding the details within this supplemental indenture and the accompanying tax opinion is crucial for assessing their investment's implications and the company's financial structure.

Key Highlights

  • 1D.R. Horton, Inc. executed an Eleventh Supplemental Indenture for its Zero Coupon Convertible Senior Notes Due 2021.
  • 2The supplemental indenture is dated as of May 11, 2001.
  • 3American Stock Transfer & Trust Company serves as the Trustee for these notes.
  • 4Guarantors are named in the supplemental indenture.
  • 5The filing includes a U.S. federal income tax opinion from Gibson, Dunn & Crutcher LLP.
  • 6This event pertains to the company's existing debt instruments, specifically convertible senior notes.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce and provide details regarding the Eleventh Supplemental Indenture related to D.R. Horton's Zero Coupon Convertible Senior Notes Due 2021.

Zero Coupon Convertible Senior Notes are debt instruments that do not pay periodic interest (zero coupon). Instead, they are sold at a discount to their face value and accrue interest over time, with the full face value paid at maturity. The 'convertible' feature allows the noteholder to convert the notes into a predetermined number of shares of the company's common stock under certain conditions. 'Senior' indicates their priority in the event of bankruptcy.

A supplemental indenture is typically filed to amend, modify, or add to the terms and covenants of an existing indenture that governs a series of debt securities. In this case, it likely provides updated or specific details pertaining to the Zero Coupon Convertible Senior Notes Due 2021.

The tax opinion from Gibson, Dunn & Crutcher LLP provides an assessment of certain U.S. federal income tax consequences related to the Zero Coupon Convertible Senior Notes. This is important for investors to understand potential tax liabilities or benefits associated with holding these notes, particularly given their zero-coupon and convertible nature.