D.R. Horton gets $2.15 billion revolver

By Sara Rosenberg

New York, Dec. 19 - D.R. Horton Inc. closed on a new $2.15 billion five-year revolving credit facility that includes a $1 billion letter of credit sub-facility, according to a company news release.

Wachovia Securities, RBS Securities and Banc of America Securities acted as joint lead arrangers and joint bookrunners on the deal. Wachovia is administrative agent, The Royal Bank of Scotland plc and Bank of America are co-syndication agents, and Calyon, JP Morgan Chase Bank, BNP Paribas, Citicorp, UBS Loan Finance LLC and The Bank of Nova Scotia are co-documentation agents. Thirty other lenders participate in the facility.

There is a $750 million accordion feature.

The new facility replaces the company's $1.21 billion credit facility.

D.R. Horton is a Fort Worth, Texas-based homebuilder.

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