Lennar taps revolver accordion, upsizing commitments to $500 million

By Susanna Moon

Chicago, Sept. 24 - Lennar Corp. boosted the commitments under its three-year unsecured revolving credit facility to $500 million after the third quarter ended Aug. 31.

The company obtained the facility due 2015 in May with $525 million maximum total commitments, of which $440 million was committed and $85 million available through an accordion with additional commitments, according to the company's earnings release for the third quarter.

Lennar is a homebuilder based in Miami.

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