The 4% senior notes of KB Home (KBH, Financial) performed well. The Los Angeles-based homebuilder—which focuses on markets in the Southeast, Central states, Southwest and West Coast—reported improved revenue and margins in its fiscal third quarter ended August 31, on both a year-ago and sequential basis, as the housing market in the US has remained strong, helping the company reduce leverage while maintaining ample liquidity.
From First Eagle High Income Fund's third-quarter 2021 commentary.
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