PulteGroup Announces Early Results of Cash Tender Offers

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02/11/2021 - 07:30 AM

PulteGroup, Inc. (NYSE: PHM) (“PulteGroup” or the “Company”) announced today the results to date of PulteGroup’s previously announced cash tender offers (the “Tender Offers”) to purchase up to $300 million aggregate principal amount (the “Aggregate Maximum Tender Amount”) of its outstanding 5.500% senior notes due 2026 (the “2026 Notes”) and 5.000% senior notes due 2027 (the “2027 Notes” and, together with the 2026 Notes, the “Notes”), in the priorities set forth in the table below and subject to a maximum of $200 million aggregate principal amount of 2026 Notes (the “2026 Tender Cap”) and a maximum of $100 million aggregate principal amount of 2027 Notes (the “2027 Tender Cap” and together with the 2026 Tender Cap, the “Tender Caps”).

Based on information provided by Global Bondholder Services, Inc., the tender agent for the Tender Offers, approximately $300 million aggregate principal amount of Notes were validly tendered (and not validly withdrawn) at or prior to 5:00 p.m., New York City time, on February 10, 2021 (the “Early Tender Time”). The following table sets forth the approximate aggregate principal amounts of each series of Notes that were validly tendered (and not validly withdrawn) as of the Early Tender Time and the principal amounts that, subject to satisfaction of the conditions to the Tender Offers described below, are expected to be accepted for purchase pursuant to the Tender Offers:

Title of Notes

CUSIP Numbers /

ISIN

Aggregate

Principal

Amount

Outstanding

Prior to the

Tender

Offers(1)

Acceptance

Priority

Level

Total

Consideration(2)(3)

Aggregate Principal

Amount of Notes

Tendered

Principal Amount

of Notes Expected

to Be Accepted

for Purchase

Proration Factor(4)

5.500% Senior Notes due 2026

745867 AW1/US745867AW12

$ 700,000,000

$ 1,200.00

$ 371,437,000

$ 200,000,000

53.98%

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