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11.25.12

PulteGroup Announces Tender Results of Its Cash Tender Offers for Up to $1,000,000,000 Aggregate Principal Amount of Certain Outstanding Notes

BLOOMFIELD HILLS, Mich., Nov. 26, 2012 /PRNewswire/ -- PulteGroup, Inc. (NYSE: PHM) ("PulteGroup," the "Company" or "us") today announced that as of 12:00 midnight, New York City time, at the end of November 21, 2012 (the "Expiration Date"), it had received tenders of notes in the amounts set out in the table below:

Title of Securities and CUSIP Numbers

 

 

Issuer

Principal Amount Outstanding

Acceptance Priority Level

Total Principal Amount
Tendered

Principal Amount Accepted

Percentage of Outstanding Amount Accepted

Offer for Notes listed below: Any and All Offer














5.125% Notes due 2013 (CUSIP: 152312AM6)

Centex

$119,477,000

N/A

$11,742,000

$11,742,000

9.83%








5.250% Notes due 2014 (CUSIP: 745867AQ4)

PulteGroup*

$255,919,000

N/A

$25,935,000

$25,935,000

10.13%








5.700% Notes due 2014 (CUSIP: 152312AN4)

Centex

$318,671,000

N/A

$75,833,000

$75,833,000

23.80%








5.200% Notes due 2015 (CUSIP: 745867AS0)

PulteGroup*

$208,027,000

N/A

$82,494,000

$82,494,000

39.66%








Offer for Notes listed below: Maximum Tender Offer














5.250% Notes due 2015 (CUSIP: 152312AQ7)

Centex

$284,464,000

1

$10,895,000

$10,895,000

3.83%








6.500% Notes due 2016 (CUSIP: 152312AT1)

Centex

$480,000,000

2

$14,755,000

$14,755,000

3.07%

                                     

* At the time of issue of these notes, the Company was known as Pulte Homes, Inc.

The terms and conditions of the tender offers are described in the Offer to Purchase, dated October 24, 2012 (the "Offer to Purchase"), and the related Letter of Transmittal (the "Letter of Transmittal").  The tender offers expired at 12:00 midnight, New York City time, at the end of the Expiration Date.

PulteGroup previously announced that it had elected to exercise its option as described in the Offer to Purchase to accept for payment all notes validly tendered in the Any and All Offer as of 5:00 p.m., New York City time, on November 6, 2012 (the "Early Tender Date").  Payment for such notes was made on November 8, 2012.  The notes that were tendered in the Any and All Offer after the Early Tender Date and prior to the Expiration Date and the notes that were tendered and accepted in the Maximum Tender Offer prior to the Expiration Date were, subject to the terms and conditions of the tender offers, accepted, and payment for all validly tendered notes not earlier accepted, was made on November 23, 2012.  Subject to the terms and the conditions of the tender offers, the notes were accepted for payment by PulteGroup by the giving of notice to Global Bondholder Services Corporation, the depositary for the tender offers.

PulteGroup retained Citigroup, BofA Merrill Lynch, Deutsche Bank Securities, J.P. Morgan, UBS Investment Bank and Wells Fargo Securities to act as dealer managers in connection with the tender offers.  Global Bondholder Services Corporation was retained to serve as the depositary and the information agent for the tender offers.

PulteGroup's obligations to accept any notes tendered and to pay the applicable consideration for them are set forth solely in t

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