Forestar Announces $500M Senior Notes Offering

By Bobby Samwell • Thursday, March 06 10:04 • Permanent Link

Forestar Group Inc. has announced a proposed offering of $500 million aggregate principal amount of senior unsecured notes due 2033. The company intends to use the net proceeds from this offering to fund a tender offer for any and all of its $400 million aggregate principal amount of existing 3.850% senior notes due 2026 and for general corporate purposes, including to repay outstanding borrowings under the company’s credit facility.

During the twelve-month period ended December 31, 2024, Forestar delivered more than 14,200 residential lots. The company operates in 62 markets and 24 states and is a majority-owned subsidiary of D.R. Horton, the largest homebuilder by volume in the United States since 2002. The market has reacted to these announcements by moving the company's shares 0.9% to a price of $21.92. For the full picture, make sure to review Forestar's 8-K report.

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