New Issue: KB Home $50 million add-on prices at 99.0 to yield 7.938% via UBS Warburg

By Paul A. Harris

St. Louis, Feb. 5 - KB Home priced a rapidly marketed $50 million add-on to its 7¾% senior subordinated notes due Feb. 1, 2010 on Wednesday at 99.0 to yield 7.938%, according to a source close to the deal. UBS Warburg was the bookrunner.

The original $250 million off-the-shelf deal priced on Jan. 17 at 98.676 to yield 8%.

The issuer is a single-family homebuilder headquartered in Los Angeles.

Issuer:	KB Home
Amount:	$50 million
Security description:	Add-on to 7¾% senior subordinated notes due Feb. 1, 2010
Manager:	UBS Warburg
Maturity:	Feb. 1, 2010
Coupon:	7¾%
Price:	99.0
Yield:	7.938%
Call features:	Callable on Feb. 1, 2007 at 103.875, then at 101.938, declining to par on Feb. 1, 2009 and thereafter
Equity clawback:	Until Feb. 1, 2006 for up to 35% at 107.75
Settlement date:	Feb. 7, 2003 with accrued interest
Distribution:	Off shelf
Ratings:	Moody's: Ba3
	Standard & Poor's: BB-
Cusip:	48666KAF6

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