Orleans Homebuilders gets $650 million amended, restated revolver

By Sara Rosenberg

New York, Feb. 1 - Orleans Homebuilders Inc. closed on a $650 million three-year amended and restated senior secured revolving credit facility, according to a company news release.

Wachovia acted as lead arranger on the deal and administrative agent, Bank of America acted as syndication agent, and Sovereign Bank, Manufacturers and Traders Trust Co. and National City Bank acted as documentation agents.

Lenders under the revolver include Firstrust Bank, Guaranty Bank, U. S. Bank, Citizens Bank of Pennsylvania, Commerce Bank, Suntrust Bank, Amsouth Bank, Franklin Bank, SSB, Comerica Bank, Compass Bank, JPMorgan Chase Bank, LaSalle Bank and Deutsche Bank Trust Co. Americas.

The facility contains a $100 million accordion feature.

Orleans Homebuilders is a Bensalem, Pa.-based developer, builder and marketer of single-family homes, town homes and condominiums.

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