Beazer Homes Announces New $250 Million Three-Year Revolving Credit Facility
ATLANTA, Sept. 26 /PRNewswire/ -- Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com ) today announced that it has closed a $250 million three-year revolving credit facility with a group of banks, led by Bank One, NA as agent. The revolving credit facility matures in September 2004 and renewed and extended Beazer's $250 million revolving credit facility, which was set to expire in November 2002.
Participating banks, in addition to Bank One, NA, include: SunTrust Bank, Wachovia Bank, NA, Comerica Bank, Guaranty Federal Bank, F.S.B., PNC Bank, NA, AmSouth Bank, Washington Mutual Bank, KeyBank, NA, Compass Bank, BNP Paribas and Bank United (Florida).
David S. Weiss, Executive Vice President and Chief Financial Officer of Beazer Homes USA, Inc., said, "We are extremely pleased to announce our new revolving credit facility, which now includes twelve banks, up from eight in the prior revolver. Under the leadership of Bank One, this facility provides us with significant liquidity and enhances our very strong financial position."
Beazer Homes USA, Inc., based in Atlanta, Georgia, is one of the country's ten largest single-family homebuilders with operations in Arizona, California, Colorado, Florida, Georgia, Maryland, Nevada, New Jersey, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas and Virginia. Beazer Homes also provides mortgage origination, title and insurance services to its homebuyers.
| Note: | Certain statements in this Press Release are "forward-looking |
|---|---|
| statements" within the meaning of the Private Securities Litigation Reform Act | |
| of 1995. Such statements involve known and unknown risks, uncertainties and | |
| other factors that may cause actual results to differ materially. Such risks, | |
| uncertainties and other factors include, but are not limited to changes in | |
| general economic conditions, fluctuations in interest rates, increases in raw | |
| materials and labor costs, levels of competition and other factors described | |
| in the Company's Annual Report for the year ended September 30, 2000. |
SOURCE Beazer Homes USA, Inc.
CONTACT: David S. Weiss, Executive Vice President and Chief Financial Officer of Beazer Homes USA, Inc., +1-404-250-3420, or dweiss@beazer.com /