HOLLYWOOD, Fla., April 5, 2006 (PRIMEZONE) -- Technical Olympic USA, Inc. (NYSE:TOA) announced today that it is offering $250 million in aggregate principal amount of its Senior Notes due 2011 in an unregistered offering pursuant to Rule 144A and Regulation S under the Securities Act. The Company intends to use the proceeds from the offering to repay amounts outstanding under its revolving credit facility and for general corporate purposes.
The senior notes to be offered in this transaction will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This announcement does not constitute an offer to sell or the solicitation of an offer to buy such notes in any jurisdiction in which such an offer or sale would be unlawful and is issued pursuant to Rule 135(c) under the Securities Act of 1933.
This press release may contain forward-looking statements. The Company wishes to caution readers that certain important factors may have affected and could in the future affect the Company's actual results and could cause the Company's actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. This press release is qualified in its entirety by cautionary statements and risk factor disclosure contained in the Company's Securities and Exchange Commission filings, including the Company's report on Form 10-K for the year ended December 31, 2005, filed with the Commission on March 10, 2006.
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