Meritage upsizes revolver to $850 million

By Sara Rosenberg

New York, July 5 - Meritage Homes Corp. increased its revolving credit facility to $850 million from $800 million using the accordion feature that was built into the deal, according to a company news release.

With the expansion, a new lender was added to the company's bank group - BNP Paribas.

Taking into account the upsizing, the revolver accordion feature now allows for an additional $200 million in borrowings.

Meritage Homes is a Scottsdale, Ariz.-based designer and builder of single-family homes.

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