8-KOther Events

HORTON D R INC /DE/ 8-K Report (Jun 24, 2003)

Filed June 24, 2003For Securities:DHI

Summary

D.R. Horton, Inc. (DHI) filed an 8-K on June 24, 2003, to report on the offering of $100,000,000 principal amount of its 5.875% Senior Notes due 2013. This filing provides key documentation related to this debt issuance, including the Underwriting Agreement, the Seventeenth Supplemental Indenture to the Senior Notes, and the legal opinion from Gibson, Dunn & Crutcher LLP. Investors should note that this report primarily serves to disclose material agreements and legal opinions associated with the new debt offering. The company is raising capital through senior notes, which will impact its capital structure and future interest expense. The filing also includes a statement of computation of ratios of earnings to fixed charges, offering insight into the company's ability to service its debt obligations.

Key Highlights

  • 1D.R. Horton, Inc. announced the offering of $100,000,000 in 5.875% Senior Notes due 2013.
  • 2The filing includes the Underwriting Agreement dated June 18, 2003, detailing the terms of the offering with underwriters UBS Securities LLC and Credit Suisse First Boston LLC.
  • 3The Seventeenth Supplemental Indenture, governing the 5.875% Senior Notes due 2013, was filed.
  • 4American Stock Transfer & Trust Company is listed as the trustee for the Senior Notes.
  • 5A legal opinion from Gibson, Dunn & Crutcher LLP is included as an exhibit.
  • 6The report contains a statement of computation of ratios of earnings to fixed charges, providing a measure of debt servicing ability.
  • 7The offering was made under D.R. Horton's existing Registration Statement on Form S-3.

Frequently Asked Questions

The primary purpose of this 8-K filing is to formally disclose material agreements and legal documentation related to D.R. Horton, Inc.'s offering of $100,000,000 principal amount of its 5.875% Senior Notes due 2013. It provides investors with access to the contracts and opinions governing this debt issuance.

The Senior Notes offered have a principal amount of $100,000,000, bear an interest rate of 5.875%, and mature in 2013. The filing includes the indenture that outlines the specific terms and conditions of these notes.

This offering increases D.R. Horton's total debt and will result in higher interest expenses in future periods. The filing of the ratios of earnings to fixed charges provides some insight into the company's current capacity to manage its debt obligations.

The underwriters for this offering are UBS Securities LLC and Credit Suisse First Boston LLC, as detailed in the Underwriting Agreement filed as an exhibit.