Lennar To Terminate $1.1 Bln Credit Facility

22 Feb 2010

Lennar Corp., the Miami-based homebuilder, says it is terminating its $1.1 billion senior unsecured revolving credit facility and is replacing it with two cash-collateralized letter of credit agreements with a capacity of $225 million.

Lennar Corp., the Miami-based homebuilder, says it is terminating its $1.1 billion senior unsecured revolving credit facility and is replacing it with two cash-collateralized letter of credit agreements with a capacity of $225 million. The move is expected to save Lennar, the third-largest home builder in the U.S. ...

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