Lennar Enters Into $525M Unsecured Revolving Credit Facility Agreement

Lennar Corporation

announced that the Company has entered into a 3-year unsecured revolving credit facility that provides the Company with $410 million of financing and expires in May 2015. The credit facility provides the Company with access to an additional $115 million of financing through an accordion feature, subject to additional commitments, for a maximum aggregate commitment under the facility of $525 million. When combining this new facility with its existing $400 million letter of credit facilities, the Company has a total of $925 million of credit facilities.