Century Communities expands unsecured credit facility to $200 million

By Wendy Van Sickle

Columbus, Ohio, Aug. 3 – Century Communities, Inc. expanded its senior unsecured credit facility to $200 million and extended its maturity by one year to 2018, according to a press release.

The facility also has a $100 million accordion feature.

Borrowings will bear interest ranging from Libor plus 275 basis points to 325 bps, depending on the leverage ratio.

Texas Capital Bank acted as lead arranger.

The facility replaces the company’s previous $120 million facility, which had an $80 million accordion feature.

The facility will be used for working capital needs, general corporate purposes and growth initiatives.

Century Communities is a Greenwood Village, Colo.-based builder of upscale single-family homes, townhomes and flats.

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