Join The Discussion

 

26-story mixed-use tower planned at Taylor & Fifth in downtown Fort Worth

Jetta Operating Co., a 24-year-old privately held oil and gas company in Fort Worth, and a related entity plan a 26-story mixed-use tower downtown at Taylor and Fifth streets on a site once owned by the Star-Telegram.

read more >

UPDATE: Six candidates file for two Water Board seats

Six candidates have filed for the two open seats on the Tarrant Regional Water Board, setting up a battle that could potentially shift the balance of power on the board and the priorities of one of the largest water districts in Texas.

read more >

Fort Worth breaks ground on $8.6 million South Main renovation

Fort Worth Near Southsiders and city officials broke ground Monday on the 18-month rebuild of South Main Street between Vickery Boulevard and West Magnolia Avenue.

read more >

Body-camera maker has financial ties to former Fort Worth police chief, others

IOWA CITY, Iowa (AP) — Taser International, the stun-gun maker emerging as a leading supplier of body cameras for police, has cultivated financial ties to police chiefs whose departments have bought the recording devices, raising a host of conflict-of-interest questions.

read more >

Fort Worth Police association planning 25,000-square-foot offices

The POA, which recently demolished its one-story building at 904 Collier St. near downtown, is planning a five-story replacement.

read more >

 

Lennar boosts unsecured revolving credit facility to $1.5B
A. Lee Graham

Reporter

Lennar Corp., whose homebuilding projects include Sendera Ranch in Haslet north of Fort Worth, has increased its unsecured revolving credit facility from $950 million to $1.5 billion and extended the credit facility's maturity to June 2018.

Included in the $1.5 billion is a $263 million accordion feature, subject to additional commitments. 

"We are pleased with the increase in our revolver, which will provide greater financial flexibility and additional liquidity to fund our strategic growth plans,” said vice president and Chief Financial Officer Bruce Gross in a news release.

Amounts borrowed under the credit facility accrue interest at alternative rates based on leverage, the range of which the company described as Eurodollar Rate plus a margin equal to 1.75 percent to 2.25 percent. Proceeds available under the credit facility may be used for working capital and general corporate purposes.

The credit agreement has multiple lenders led by JPMorgan Chase Bank, N.A., acting as administrative agent. Other lenders are Citibank, N.A.; The Royal Bank of Scotland PLC; Bank of America, N.A.; Deutsche Bank AG New York Branch; Royal Bank of Canada; Bank of Montreal; PNC Bank, National Association; UBS AG, Stamford Branch; Wells Fargo Bank, National Association; HSBC Bank USA; Texas Capital Bank, N.A.; TD Bank N.A.; California Bank & Trust; Comerica Bank; Regions Bank and Capital Bank, N.A.

Amounts borrowed under the agreement are guaranteed by some company subsidiaries.


Miami-based Lennar Corp. builds move-up and retirement homes primarily under the Lennar brand name. Its Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of the company's homes and others. More information is available at www.lennar.com.

lgraham@bizpress.net

 

< back

Email   email
hide
Catch
How 'bout them Cowboys?