KB Home receives default notice on 7¼% senior notes for failure to file 10-Q

By Caroline Salls

Pittsburgh, Oct. 27 - KB Home received a notice-of-default letter on its 7¼% senior notes due 2018 for failure to file its 10-Q for the quarter ended Aug. 31 with the Securities and Exchange Commission, according to a company news release.

KB Home said the letter came from an entity claiming to manage funds that own more than 25% of the notes.

Under the note indenture, the company has 60 days to cure the default.

As previously reported, the company is soliciting consents from the holders of each series of its senior notes, including the 7¼% senior notes, to approve a proposed amendment that would extend the 10-Q filing deadline for the quarter in question.

KB Home is a Los Angeles-based builder of single-family homes.

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