WASHINGTON (dpa-AFX) - KB Home (KBH) said that it has provided additional details on its capital structure and liquidity position. The company noted that it has a current balance of cash, cash equivalents and restricted cash of over $730 million as of May 31, 2011.
The company said that it currently forecasts more than ample liquidity at its fiscal year-end, with a projected balance of cash, cash equivalents and restricted cash of over $500 million, after funding its senior note maturity in August 2011 and South Edge-related obligations and without accessing the capital markets.
Following the August 2011 maturity of senior notes, the company stated that its next senior note maturity is not until 2014. While the Company will continue to evaluate its future cash requirements and financing opportunities available in the capital markets, there is no plan to issue equity, the company said.
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