KB Home (KBH) Taps Citi for $500M Revolver

KB Home (NYSE: KBH) has engaged Citigroup Global Markets Inc. (“CGMI”) to assemble a syndicate of financial institutions to provide a new unsecured revolving credit facility in an initial principal amount of up to $200 million, with an option to potentially increase the principal amount to up to $300 million. CGMI has informed KB Home that it has received commitments from several financial institutions with respect to this credit facility, subject to execution of satisfactory documentation. The definitive terms of, and the obligations of KB Home, CGMI, and/or any members of the syndicate of financial institutions to enter into, such a revolving credit facility or any similar facility are subject to additional discussions and negotiations among the parties, and there is no assurance that a new revolving credit facility or similar facility for KB Home will be consummated.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Citi upgrades O-I Glass to Buy with $9 price target, opens 90-Day upside catalyst watch
• NAHB housing market index rises to 35 in August from 34
• Citizens Starts Builders FirstSource (BLDR) at Market Perform