Company: LEN
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118869
Chunk: 19

Company: LENNAR CORP /NEW/
Filing Date: 2025-05-13
Form: 424B5
Chunk 19
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 and that guarantee the Existing Notes. See “Description of Notes—The
Guarantees.” In addition to the Credit Facility, the Company has other letter of credit facilities with different financial institutions. At February 2025, we had $2.7 billion of performance and financial letters of credit outstanding.

See also “Summary—Recent Developments—Delayed Draw Term Loan Facility” for a description of the Delayed Draw Term
Loan Facility we expect to enter into approximately at the same time as the closing of this offering.

S-11

DESCRIPTION OF NOTES

The following description of the material terms of the Notes and the Indenture supplements, and to the extent it is inconsistent with, replaces, the description of the general terms and provisions of the debt securities set forth in the accompanying prospectus. We will issue the Notes under an indenture dated as of December 31, 1997 (the “Base Indenture”), as supplemented and amended by a fifteenth supplemental indenture to be dated as of May 19, 2025 (the “Fifteenth Supplemental Indenture” and, together with the Base Indenture, the “Indenture”) among us, the subsidiary guarantors and The Bank of New York Mellon, as successor trustee (the “Trustee”). We have filed the Base Indenture with the SEC. The Indenture is subject to, and governed by, the Trust Indenture Act of 1939, as amended (the “TIA”). You should read the Indenture for additional information before you purchase any Notes because the Indenture, not this description, will define each holder’s rights as a holder of the Notes. You may request a copy of the Indenture at our address shown under the caption “Incorporation by Reference” in this prospectus supplement. Capitalized terms used but not defined in this section have the meanings specified in the Indenture. For purposes of this Description of Notes, “we,” “our” or “us” refers to Lennar Corporation and does not include our subsidiaries, except in references to financial data determined on a consolidated basis.

General

The Notes will be our direct,
unsecured obligations and will rank equal in right of payment by us with all of our other unsecured and unsubordinated indebtedness from time to time outstanding. The Notes will be issued in denominations of $2,000 principal amount and integral
multiples of $1,000 in excess of that amount and will be