Homebuilder Builds Credit

MHProNews has learned from Investors D.R. Horton, Inc. (NYSE:DHI), has received lending commitments from five additional banks that will provide an unsecured line of revolving credit of $600 million, which could be extended to one billion given certain conditions and the availability of additional funds. Horton is the nation’s largest homebuilder with operations in 75 markets in 26 states. The Royal Bank of Scotland remains the arranger and primary lender. It is joined by Citibank N.A., Deutsche Bank Trust Co. Americas, JPMorgan Chase Bank, NA, UBS AG, and Wells Fargo Bank. Chairman of the Board Donald R. Horton, noting the additional five banks, says, “ 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.”

(Photo credit: FotoSearch)

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