Lennar Corporation amended its unsecured revolving credit facility, increasing lenders’ aggregate commitments to $3.795 billion. Class A commitments of $3.545 billion now mature in November 2031, versus November 2029 previously. Including a $750 million accordion feature subject to additional commitments, aggregate potential borrowing capacity increased from $3.500 billion to $4.545 billion. The facility also includes $225 million of Class B commitments maturing in May 2027 and $25 million of new Class C commitments maturing in November 2029.
Lennar amended its delayed draw term loan facility, adding $40 million and increasing aggregate outstanding delayed draw term loans from $1.71 billion to $1.75 billion, while reducing available accordion capacity from $400 million to $360 million. The loans mature in May 2028, with a one-time company option to extend to May 2029 subject to conditions. Both agreements removed the 0.10% SOFR credit spread adjustment. Wholly owned subsidiaries guarantee obligations under both facilities; proceeds may be used for working capital and general corporate purposes, including acquisitions.
Lennar Corporation (LEN) settled an offering on October 15, 2026, issuing $300 million aggregate principal amount of 5.700% Senior Notes due 2029 and $300 million aggregate principal amount of 5.950% Senior Notes due 2032. Certain direct or indirect wholly owned subsidiaries guarantee the notes.
Lennar intends to use the net proceeds for general corporate purposes. The notes were issued under supplemental indentures to the company’s December 31, 1997 indenture, and the offering was registered under the company’s Form S-3 registration statement.
Lennar Corporation (LEN) is offering $600 million aggregate principal amount of senior notes: $300 million of 5.700% notes due October 15, 2029, and $300 million of 5.950% notes due January 15, 2032.
Interest is payable semiannually, beginning April 15, 2027 for the 2029 Notes and January 15, 2027 for the 2032 Notes. Estimated net proceeds are approximately $594.5 million, after underwriting discount and estimated offering expenses, for general corporate purposes. The notes are unsecured and rank equally with Lennar’s other unsecured, unsubordinated debt, but are effectively junior to secured debt to the extent of the value of the assets securing it. Guarantees apply to qualifying wholly owned subsidiaries that guarantee specified debt.
In third quarter 2026, Lennar delivered 20,840 homes, recorded 20,879 new orders, reported 15.8% gross margin and $284 million net earnings, or $1.19 per share. As of August 31, 2026, subsidiaries had $1.93 billion of indebtedness, including $1.76 billion secured; $1.58 billion of secured debt was at subsidiaries that will not guarantee the notes. The notes will not be exchange-listed, and no public market currently exists.
Lennar Corporation (LEN) is offering two series of senior notes, subject to completion, with net proceeds intended for general corporate purposes. The notes would be unsecured and unsubordinated, ranking equally with Lennar’s other unsecured and unsubordinated debt but effectively junior to secured debt to the value of the assets securing it. Certain wholly owned subsidiaries would guarantee the notes under the indenture’s stated debt-guarantee conditions. A Change of Control Triggering Event would require an offer to repurchase the notes at 101% of principal plus accrued interest.
In the third quarter of 2026, Lennar delivered 20,840 homes, within guidance, and received 20,879 new orders; gross margin was 15.8%, improved sequentially, and net earnings were $284 million, or $1.19 per share. As of August 31, 2026, subsidiaries had $1.93 billion of indebtedness, including $1.76 billion of secured debt; $1.58 billion of that secured debt was at subsidiaries that would not guarantee the notes when issued. The notes will not be listed on a securities exchange, and no public market currently exists.
LENNAR CORP director Armando J. Olivera acquired 24 deferred stock units on October 7, 2026, in connection with the dividend record date under the outside directors’ compensation program. The units include deferred quarterly director-fee DSUs and annual grant DSUs, including dividend equivalents. The director-fee units are fully vested; annual grant units vest with the related annual grant, and neither converts into Class A Common Stock until he ceases to be a board member. The common stock closing price was $76.13 per share on the record date. His reported direct Class A position following the transaction was 23,371 shares; a separate holding entry lists 142 Class B shares.
Lennar Corporation director Jeffrey Sonnenfeld received 21 deferred stock units (DSUs) on October 7, 2026, issued in respect of deferred quarterly cash director fees and an unvested annual DSU grant, including dividend equivalents. The referenced $76.13 per share was the common stock closing price on the dividend record date. The Director’s Fee DSUs are fully vested; the Annual Grant DSUs vest with the related annual grant, and neither converts into Class A Common Stock until Sonnenfeld leaves the board. Reported post-transaction balances were 28,209 shares of Class A Common Stock and 591 shares of Class B Common Stock.
Lennar Corp. director Sherrill W. Hudson acquired 15 restricted stock units (RSUs) on October 7, 2026, as dividend equivalents associated with his unvested annual RSU grant. The RSUs will vest at the same time as that grant. Following the transaction, Hudson directly held 38,308 Class A common shares; the filing also reports 5,650 Class B common shares held directly.
Lennar Corp director Dacona Smith acquired 15 restricted stock units on October 7, 2026, issued in respect of the unvested annual RSU grant as a result of a dividend on Lennar's common stock. The reported direct position following the transaction was 6,292 shares. Lennar's common stock closed at $76.13 per share on the October 7, 2026 record date.
Lennar Corp director Serena Wolfe acquired 15 restricted stock units (RSUs) tied to Class A common stock on October 7, 2026. The units were issued as dividend equivalents in respect of her unvested annual RSU grant as a result of a dividend on Lennar’s common stock with an October 7, 2026 record date, and vest at the same time as that grant. Her reported direct position following the transaction was 6,362 shares. The associated $76.13 per-share figure represents the closing price on the record date.
Lennar Corp (LEN) director Theron I. Gilliam acquired 15 restricted stock units (RSUs) reported under Class A common stock on October 7, 2026. The RSUs were issued in respect of his unvested annual RSU grant as a result of the common-stock dividend with an October 7, 2026 record date, and will vest at the same time as that annual grant. The report lists 36,838 Class A shares following the transaction and 432 directly held Class B shares.