Lennar Announces $500 Million Offering of Senior Notes

April 22, 2015

Willkie assists the underwriters led by Joint Book-Running Managers Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and BofA Merrill Lynch, et al. 

On April 21, Lennar Corporation announced that it has priced an underwritten public offering of $500 million of 4.750% Senior Notes due 2025.  Willkie represented the underwriters led by Joint Book-Running Managers Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, BofA Merrill Lynch, Mizuho Securities USA Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC. Fifth Third Securities, Inc. and PNC Capital Markets LLC are acting as Co-Managers in the offering.

Miami-based Lennar, one of the nation’s largest homebuilders, constructs affordable, move-up and retirement homes.  Lennar's financial services segment provides mortgage financing, title insurance and closing services for both buyers of the company's homes and others. In recent months, Willkie represented the underwriters in three other Lennar offerings with a combined value of $1 billion.

The current deal was handled by partners David Boston and Leslie Mazza, of counsel Martin Miller, and associates Theodore Neos, Kathleen O’Donnell, Tristan Freeman and Adam Remo.