D.R. Horton buys back $1.4 million 9¾% notes, $35.3 million 8% notes

By Angela McDaniels

Tacoma, Wash., Nov. 5 - D.R. Horton, Inc. said it repurchased $1.4 million of its 9¾% senior subordinated notes due 2010 and $35.3 million of its 8% senior notes due 2009 during the fiscal fourth quarter ended Sept. 30.

The repurchases were made through unsolicited transactions, according to the company's preliminary earnings release.

The Forth Worth, Texas-based homebuilder's net loss for the fiscal fourth quarter is estimated to be $800 million to $900 million. It reported a cash balance of $1.4 billion as of Sept. 30.

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