New Home exercises accordion, raises credit facility to $200 million

By Tali Rackner

Norfolk, Va., Dec. 21 – New Home Co. Inc. exercised the accordion feature under its existing credit facility on Dec. 17, increasing the total lending commitment to $200 million from $175 million, according to an 8-K filing with the Securities and Exchange Commission.

U.S. Bank NA, doing business as Housing Capital Co., is the administrative agent. California Bank & Trust and City National Bank were added as lenders.

The maturity date for all amounts borrowed under the facility is April 30, 2018.

No other material modifications were made to the facility.

The homebuilder is based in Aliso Viejo, Calif.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.