William Lyon gets $50 million revolver

By Sara Rosenberg

New York, April 3 - William Lyon Homes Inc. closed on a new $50 million revolving credit facility due April 3, 2009, according to an 8-K filed with the Securities and Exchange Commission Monday.

Beginning April 3, 2008, the revolver commitment will decrease $12.5 million each calendar quarter until maturity.

Comerica Bank acted as the lead bank on the deal, which was completed on March 28.

William Lyon is a Newport Beach, Calif., designer, constructor and seller of single-family detached and attached homes.

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