KB Home Seeks to Raise $500 Million

KB Home, the No. 2 U.S. homebuilder by houses sold, filed for securities sales to raise as much as $500 million for general uses.

The Los Angeles-based company filed with the Securities and Exchange Commission to be able to sell debt, common or preferred stock, or other securities as needed.

Once approved, the company would be able to sell in any combination or amount up to $500 million. KB Home also may offer $250 million of unsold securities from a previous registration. KB Home shares fell 62 cents to close at $31.35 on the New York Stock Exchange.