Daily News: October 26, 2017

Credit Suisse Upsizes Beazer Homes Facility to $200MM

Beazer Homes USA expanded and extended its senior secured credit facility, increasing the size from $180 million to $200 million, and extending the maturity to February 2020.

According to a related 8-K filing, Credit Suisse, Cayman Islands, was administrative agent for the transaction. Deutsche Bank was a lender.

“The transaction underscores our ability to execute our balanced growth strategy, with our focus on achieving and eventually surpassing our ‘2B-10’ target while improving the health of our balance sheet,” said Bob Salomon, CFO.

The amended facility permits the maximum aggregate amount of commitments to be increased to up to $250 million pursuant to one or more additional incremental increases, subject to the approval of any lenders providing such increases.

Headquartered in Atlanta, Beazer Homes specializes in building single-family homes.