DR Horton Inc Announces Increase In Senior Unsecured Revolving Bank Credit Facility To $600 Million

DR Horton Inc 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.