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M/I Homes fully exercises revolver’s $100 million accordion feature
By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – M/I Homes, Inc. fully exercised the $100 million accordion feature of its unsecured revolving credit facility dated July 18, 2013 on Friday, according to an 8-K filed with the Securities and Exchange Commission.
The transaction brings total revolving commitments under the facility to $400 million. No other terms were changed.
As of June 30, the company had $106 million of borrowings and $27 million of letters of credit outstanding under the revolver, leaving $167 million available.
The credit facility matures Oct. 20, 2018.
M/I Homes builds single-family homes and is based in Columbus, Ohio.
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