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Technical Olympic USA Announces Offering of Its Senior
Subordinated Notes
HOLLYWOOD, Fla., Dec 14, 2004 /PRNewswire-FirstCall via COMTEX/ -- Technical
Olympic USA, Inc. (TOA) announced today that it is offering $200.0 million
in aggregate principal amount of its Senior Subordinated Notes due January
2015 in an unregistered offering pursuant to Rule 144A and Regulation S
under the Securities Act. The Company intends to use the proceeds from the
offering to repay amounts outstanding under its revolving credit facility
and for general corporate purposes.
The senior subordinated notes to be offered in this transaction will not be
registered under the Securities Act of 1933 and may not be offered or sold
in the United States absent registration or an applicable exemption from
registration requirements. This announcement does not constitute an offer to
sell or the solicitation of an offer to buy such notes in any jurisdiction
in which such an offer or sale would be unlawful and is issued pursuant to
Rule 135(c) under the Securities Act of 1933.
Technical Olympic USA, Inc. ("TOUSA") is a leading homebuilder in the United
States, operating in 15 metropolitan markets located in four major
geographic regions: Florida, the Mid-Atlantic, Texas, and the West. TOUSA
designs, builds, and markets high-quality detached single-family residences,
town homes, and condominiums to a diverse group of homebuyers, such as
"first-time" homebuyers, "move-up" homebuyers, homebuyers who are relocating
to a new city or state, buyers of second or vacation homes, active-adult
homebuyers, and homebuyers with grown children who want a smaller home
("empty-nesters"). It also provides financial services to its homebuyers and
to others through its subsidiaries, Preferred Home Mortgage Company and
Universal Land Title, Inc. For more information on TOUSA, please visit our
website at http://www.tousa.com.
This press release may contain forward-looking statements.
The Company wishes to caution readers that certain important factors may
have affected and could in the future affect the Company's actual results
and could cause the Company's actual results for subsequent periods to
differ materially from those expressed in any forward-looking statement made
by or on behalf of the Company. This press release is qualified in its
entirety by cautionary statements and risk factor disclosure contained in
the Company's Securities and Exchange Commission filings, including the
Company's report on Form 10-K filed with the Commission on February 10,
2004.
SOURCE Technical Olympic USA, Inc.
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