8-KOther Events

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

Filed August 14, 2001For Securities:DHI

Summary

D.R. Horton, Inc. (DHI) filed an 8-K on August 14, 2001, reporting on significant financial events that occurred around August 8, 2001. The primary focus of this report is the execution of an Underwriting Agreement with UBS Warburg LLC, indicating a capital raising or debt issuance activity. This agreement, alongside a Thirteenth Supplemental Indenture related to their 7.875% Senior Notes Due 2011, suggests DHI is actively managing its debt structure and potentially seeking to expand its financial capacity. Investors should note the involvement of guarantors in these agreements, which provides additional security for the issued debt. The inclusion of a statement of computation of ratios of earnings to fixed charges is also a key component, offering insight into the company's ability to service its existing and new debt obligations. This filing signals a period of financial activity for D.R. Horton, likely aimed at supporting its operations or growth strategies.

Key Highlights

  • 1D.R. Horton, Inc. entered into an Underwriting Agreement with UBS Warburg LLC on August 8, 2001.
  • 2The company also executed a Thirteenth Supplemental Indenture related to its 7.875% Senior Notes Due 2011.
  • 3Guarantors are named in both the Underwriting Agreement and the Supplemental Indenture, providing additional credit support.
  • 4The filing includes a statement of computation of ratios of earnings to fixed charges, offering insight into debt servicing ability.
  • 5This 8-K indicates active capital markets activity and debt management by D.R. Horton.
  • 6The report was filed on August 14, 2001, with the earliest event reported being August 8, 2001.

Frequently Asked Questions

The main purpose of this 8-K filing is to report on significant corporate events, specifically the execution of an Underwriting Agreement for potential capital raising or debt issuance, and a supplemental indenture related to existing senior notes. It also provides information on the company's ability to cover its fixed charges.

The Underwriting Agreement with UBS Warburg LLC indicates that D.R. Horton is likely engaging in a debt issuance or equity offering. UBS Warburg LLC, as the underwriter, will facilitate the sale of securities to investors, helping D.R. Horton raise capital.

The 7.875% Senior Notes Due 2011 are a form of debt that D.R. Horton previously issued. The Thirteenth Supplemental Indenture is an amendment or addition to the original indenture that governs these notes. It may be executed to modify terms, add collateral, or address other covenants related to the notes, possibly in conjunction with new financing activities.

This statement demonstrates D.R. Horton's financial health and its capacity to meet its interest payment obligations on its debt. A higher ratio indicates a greater ability to cover fixed charges, which is a positive sign for bondholders and other creditors, suggesting lower financial risk.