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KB Home to redeem $350M worth of notes

KB Home will repurchase all $350 million of its 8.00% senior notes due March 15, 2020.

The company aims to complete the early redemption using net proceeds from its recent offering of $300 million of its 4.80% senior notes due 2029, along with cash on hand.

In the fourth quarter, the company expects to incur a charge of approximately $6.7 million associated with the early redemption of the notes.