KB Home gets $1.5 billion revolver

By Sara Rosenberg

New York, Nov. 22 - KB Home closed on a new $1.5 billion five-year unsecured revolving credit facility, according to a company news release.

Banc of America Securities LLC and Citigroup Global Markets Inc. acted as the lead banks on the deal.

Other participating lenders include JPMorgan Chase Bank, Calyon, Wachovia Bank, The Royal Bank of Scotland and Barclays Bank.

The new revolver replaces the company's previous $1 billion revolver that was set to mature in 2007.

KB Home is a Los Angeles-based homebuilder.

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