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D.R. Horton
DHI, America's Builder, announced that it has
received additional lending commitments from five banks to increase the
capacity of its five-year senior unsecured revolving credit facility to $600
million. The facility has also been amended to include an uncommitted
accordion feature which could increase the facility to $1 billion, subject to
certain conditions and availability of additional bank commitments. The
facility's letter of credit sublimit is 50% of the revolving credit
commitment, or $300 million.
The Royal Bank of Scotland plc remains the Sole Lead Arranger and
Administrative Agent of the facility. The additional lenders joining the
facility as Co-Arrangers are Citibank N.A.; Deutsche Bank Trust Company
Americas; JPMorgan Chase Bank, N.A.; UBS AG, Stamford Branch and Wells Fargo
Bank.
Donald R. Horton, Chairman of the Board, said, “We are very pleased to welcome
these additional five banks as Co-Arrangers to our revolving credit facility.
We appreciate their commitment to D.R. Horton and their support of our
business as we prepare to take advantage of profitable growth opportunities
across our homebuilding markets.”
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