PulteGroup Prices $800 Million Senior Notes Offering

Key Terms

senior unsecured notes financial

Senior unsecured notes are a type of loan a company borrows from investors, promising to pay back with interest. They are called "unsecured" because they aren’t backed by specific assets like buildings or equipment, but "senior" because they are paid back before other debts if the company gets into trouble. Investors see them as a relatively safer way for companies to raise money.

senior notes financial

Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.

yield to maturity financial

Yield to maturity is the total return an investor can expect to earn if they buy a bond today and hold it until it pays back all its money. It’s like calculating how much you’ll make from a savings account if you keep it for the full term, helping investors compare different investments to see which one offers the best potential earnings.

aggregate principal amount financial

The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.

shelf registration statement regulatory

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

prospectus supplement regulatory

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

underwritten public offering financial

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

joint book-running managers financial

Joint book-running managers are the lead banks or financial firms responsible for organizing and overseeing the sale of a large financial offering, such as a company’s stock or bonds. They coordinate efforts to set the price, attract investors, and ensure the offering is successful. Their role is important to investors because they help ensure the offering is well-managed, properly priced, and accessible to a wide range of buyers.

ATLANTA--(BUSINESS WIRE)-- PulteGroup, Inc. (NYSE: PHM) (“PulteGroup”) announced today the pricing of an underwritten public offering of $800 million in aggregate principal amount of its senior unsecured notes, consisting of $400 million aggregate principal amount of 4.250% senior notes due March 1, 2031 and $400 million aggregate principal amount of 4.900% senior notes due March 1, 2036. The senior notes due 2031 were offered to the public at 99.658% of the principal amount and have a yield to maturity of 4.326% and the senior notes due 2036 were offered to the public at 99.038% of the principal amount and have a yield to maturity of 5.023%. The offering is expected to close on or about February 20, 2026, subject to customary closing conditions.

PulteGroup intends to use the net proceeds of the offering to repay at maturity all $251.9 million principal amount of its outstanding 5.500% senior notes due March 2026 and to redeem in full prior to maturity all $337.3 million principal amount of its outstanding 5.000% senior notes due January 2027 and, in each case, to pay any premium and accrued interest in respect thereof. PulteGroup intends to use any remaining net proceeds for general corporate purposes.

J.P. Morgan Securities LLC, BofA Securities, Inc., Truist Securities, Inc., U.S. Bancorp Investments, Inc., Mizuho Securities USA LLC, PNC Capital Markets LLC, BBVA Securities Inc. and Citizens JMP Securities, LLC are serving as joint book-running managers for the offering, and Fifth Third Securities, Inc., Regions Securities LLC, TD Securities (USA) LLC, TCBI Securities, Inc., d/b/a Texas Capital Securities, Huntington Securities, Inc. and Zions Direct, Inc. are serving as co-managers.

The offering is being made under PulteGroup’s shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) and only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus may be obtained by calling J.P. Morgan Securities LLC at 212-834-4533, BofA Securities, Inc. toll free at 1-800-294-1322, Truist Securities, Inc. toll free at 1-800-685-4786 and U.S. Bancorp Investments, Inc. toll free at 1-877-558-2607.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About PulteGroup

PulteGroup, Inc., based in Atlanta, Georgia, is one of the largest homebuilding companies in the United States, with operations in 47 markets throughout the country. Over its history, PulteGroup has delivered over 875,000 homes. While PulteGroup’s subsidiaries engage primarily in the homebuilding business, PulteGroup also has financial services businesses, which include mortgage banking, title, and insurance agency operations, through Pulte Mortgage LLC and other subsidiaries.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of risks, uncertainties and other factors that could cause PulteGroup’s actual results, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or implied by, these statements. You can identify these statements by the fact that they do not relate to matters of a strictly factual or historical nature and generally discuss or relate to forecasts, estimates or other expectations regarding future events. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “project,” “may,” “can,” “could,” “might,” “should,” “will” and similar expressions identify forward-looking statements, including statements related to the expected closing date of the notes offering and PulteGroup’s intended use of proceeds therefrom.

Such risks, uncertainties and other factors include, among other things: interest rate changes and the availability of mortgage financing; the impact of any changes to PulteGroup’s strategy in responding to the cyclical nature of the industry or deteriorations in industry conditions or downward changes in general economic or other business conditions, including any changes regarding PulteGroup’s land positions and the levels of its land spend; economic changes nationally or in PulteGroup’s local markets, including inflation, deflation, changes in consumer confidence and preferences and the state of the market for homes in general; supply shortages and the cost of labor and building materials; the availability and cost of land and other raw materials used by PulteGroup in its homebuilding operations; a decline in the value of the land and home inventories PulteGroup maintains and resulting possible future writedowns of the carrying value of its real estate assets; competition within the industries in which PulteGroup operates; rapidly changing technological developments, including, but not limited to, the use of artificial intelligence in the homebuilding industry; governmental regulation directed at or affecting the housing market, the homebuilding industry or construction activities, slow growth initiatives and/or local building moratoria; the availability and cost of insurance covering risks associated with PulteGroup’s businesses, including warranty and other legal or regulatory proceedings or claims; damage from improper acts of persons over whom PulteGroup does not have control or attempts to impose liabilities or obligations of third parties on PulteGroup; weather-related slowdowns; the impact of climate change and related governmental regulation; adverse capital and credit market conditions, which may affect PulteGroup’s access to and cost of capital; the insufficiency of PulteGroup’s income tax provisions and tax reserves, including as a result of changing laws or interpretations; the potential that PulteGroup does not realize its deferred tax assets; PulteGroup’s inability to sell mortgages into the secondary market; uncertainty in the mortgage lending industry, including revisions to underwriting standards and repurchase requirements associated with the sale of mortgage loans, and related claims against PulteGroup; risks associated with the implementation of a new enterprise resource planning system; risks related to information technology failures, data security issues, and the effect of cybersecurity incidents and threats; the impact of negative publicity on sales; failure to retain key personnel; the impairment of PulteGroup’s intangible assets; disruptions associated with epidemics, pandemics or other serious public health threats (as well as fear of such events), and the measures taken to address them; and other factors of national, regional and global scale, including those of a political, economic, business and competitive nature. See PulteGroup’s Annual Report on Form 10-K for the year ended December 31, 2025, and other public filings with the SEC, for a further discussion of these and other risks and uncertainties applicable to its businesses. PulteGroup undertakes no duty to update any forward-looking statement, whether as a result of new information, future events or changes in PulteGroup’s expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260210829023/en/

Company Contact

Investors: Jim Zeumer

(404) 978-6434

jim.zeumer@pultegroup.com

Source: PulteGroup, Inc.