D.R. Horton after market close Tuesday said it would offer approximately $400 million in aggregate principal amount of convertible senior notes due2014 in an offering registered under the Company¹s currently effective shelf registration statement.

The company said it intends to grant to the underwriters of the notes an option to purchase up to an additional $60 million aggregate principal amount of notes solely to cover over-allotments, if any. The proceeds would be used for general corporate purposes, including repayment or repurchase of outstanding debt.

The proposed offering is being led by Citi.

The offering was expected by analysts.