KB Home files $1.5 billion shelf

By Ted A. Knutson

Washington, Nov. 15 - KB Home and subsidiaries registered a $1.5 billion shelf Monday in an S-3 filing with the Securities and Exchange Commission. Of the shelf, $1.05 billion is new and $450 million is previously registered but unsold securities

The filing allows for debt securities, preferred stock, common stock, warrants, stock purchase contracts, stock purchase units, and depositary shares.

In addition, the registration allows for an indeterminate number of shares of preferred stock, depositary shares and common stock that may be issued upon conversion or exchange of debt securities, preferred stock or depositary shares

Los Angeles-based KB Home is one of the nation's largest builders.

Proceeds from future offerings authorized by the shelf are planned for general corporate purposes including new residential and commercial development, the repayment of debt and possible land or corporate acquisitions.

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