KB Home issues make-whole call for $100 million of 9.1% notes due 2017

By Susanna Moon

Chicago, Dec. 15 – KB Home will redeem $100 million of its 9.1% senior notes due Sept. 15, 2017.

The notes will be redeemed at a make-whole price on Jan. 13, according to a company notice.

“The early redemption of $100 million of our 2017 senior notes – our most expensive debt – with internally generated cash ... represents an initial step toward deleveraging,” Jeffrey Mezger, chairman, president and chief executive officer, said in a company press release.

U.S. Bank NA is the trustee.

KB Home is a Los Angeles-based homebuilder.

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