Company: LEN
Filing Date: 2025-10-03
Form Type: 10-Q
Source: 0001628280-25-044086
Chunk: 29

Company: LENNAR CORP /NEW/
Filing Date: 2025-10-03
Form: 10-Q
Item: Item 1
Chunk 29
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 per share$2.29 4.26 6.06 10.26 For both the three and nine months ended August 31, 2025 and 2024, there were no options to purchase shares of common stock that were outstanding and anti-dilutive.

(8)Homebuilding Senior Notes and Other Debt Payable

(Dollars in thousands)At August 31, 2025At November 30, 2024Unsecured revolving credit facility$1,140,000 — 5.25% senior notes due 2026400,912 401,824 5.00% senior notes due 2027350,686 350,974 4.75% senior notes due 2027698,700 698,266 5.20% senior notes due 2030693,853 — 4.75% senior notes due 2025— 499,779 Mortgage notes on land and other debt239,615 307,440 $3,523,766 2,258,283 The carrying amounts of the senior notes in the table above are net of debt issuance costs of $7.5 million and $2.4 million as of August 31, 2025 and November 30, 2024, respectively.In May 2025, the Company issued $700 million in aggregate principal amount of 5.20% senior notes due 2030 (the "5.20% senior notes") at a price of 99.969% of the principal amount. Proceeds from the offering, after payment of expenses, totaled $695.6 million. The 5.20% Senior Notes are unsecured and unsubordinated, but are guaranteed by substantially all of the Company's 100% owned homebuilding subsidiaries. Interest on the 5.20% Senior Notes is due semi-annually beginning January 30, 2026. The Company utilized the net proceeds from the sale of the 5.20% senior notes primarily to pay off $500 million aggregate principal amount of its 4.75% senior notes due May 2025. The redemption price, which was paid in cash, was 100% of the principal amount outstanding.In May 2025, the Company also entered into a new unsecured delayed draw term loan facility with an initial committed borrowing availability of approximately $1.6 billion (the “Delayed Draw Term Loan Facility”), which can be increased by an additional $500