SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
November 1, 1998
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(Date of Report--Date of Earliest Event Reported)
D. R. Horton, Inc.
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(Exact Name of Registrant as Specified in Charter)
Delaware 1-14122 75-2386963
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(State or Other Jurisdiction) (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
1901 Ascension Boulevard, Suite 100, Arlington, Texas 76006
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(Address of Principal Executive Offices)
(817) 856-8200
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events.
As of November 1, 1998, D. R. Horton, Inc. (the "Company") redeemed all
of its outstanding 6 7/8% Convertible Subordinated Notes due 2002 (the "Notes").
The Company assumed the total outstanding principal amount of $86,150,000 of the
Notes in its merger with Continental Homes Holding Corp. on April 20, 1998.
Until 5:00 p.m. on October 29, 1998, the Notes were convertible into
shares of the Company's common stock at a conversion rate of 94.73625 shares of
Company common stock for each $1,000 principal amount of Notes. Prior to that
time, all but $6,000 principal amount of the Notes were converted into a total
of approximately 8.16 million shares of the Company common stock. Approximately
7.8 million of these 8.16 million shares were issued in conversions occurring
after June 30, 1998.
Pursuant to Article 3 of the Indenture governing the Notes, redemption
of the remaining $6,000 of Notes was at the redemption price of $1,034.38, plus
accrued interest in the amount of $34.38, for a total payment of $1,068.76, for
each $1,000 principal amount of Notes.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: November 3, 1998
D. R. Horton, Inc.
By: /s/ David J. Keller
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David J. Keller
Executive Vice President