Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
July 27, 2023
Date of Report (Date of earliest event reported)
LENNAR CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
1-11749
95-4337490
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
5505 Blue Lagoon Drive, Miami, Florida33126
(Address of principal executive offices) (Zip Code)
(305)559-4000
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Class A Common Stock, par value $.10
LEN
New York Stock Exchange
Class B Common Stock, par value $.10
LEN.B
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
On July 27, 2023, Lennar Corporation (the “Company”) issued notices that it had opted to redeem on August 30, 2023 (the “Redemption Date”) all of its outstanding 5.875% Senior Notes due 2024 (the “Lennar Notes”) and all of the outstanding 5.875% Senior Notes due 2024 issued by Standard Pacific Corporation, now a subsidiary of the Company (the “Standard Pacific Notes” and together with the Lennar Notes, the “Notes”). The Notes were scheduled to mature on November 15, 2024. The redemption price will be equal to the greater of: (a) 100% of the principal amount of the Notes; and (b) the present value of the Remaining Payments (as defined in the applicable indenture) on the Notes being redeemed on the Redemption Date, discounted to the Redemption Date, on a semiannual basis, at the Treasury Rate (as defined in the applicable indenture) plus 50 basis points (0.50%). In addition, holders will receive accrued but unpaid interest to, but not including, the Redemption Date. As of July 27, 2023, the outstanding principal amounts of the Lennar Notes and the Standard Pacific Notes were $421.4 million and $3.6 million, respectively.
Copies of the Notices of Redemption are attached as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K.
Cover Page Interactive Data File--the cover page XBRL tags are embedded within the Inline XBRL document.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: July 28, 2023
Lennar Corporation
By:
/s/ Diane Bessette
Name:
Diane Bessette
Title:
Vice President, Chief Financial Officer and Treasurer
