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Builder Pulte Terminates Revolving Credit Facility

By Dawn Wotapka Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- PulteGroup Inc. (PHM), one of the U.S.'s largest builders, will terminate its $250 million revolving credit facility March 30. While Michigan-based Pulte will realize a roughly $1.3 million first-quarter charge, the move will save an undisclosed amount of money. "With $1.5 billion in cash on our balance sheet at year end, we have ample liquidity to fund current operations and near-term growth opportunities," CFO Roger Cregg said in a release. "We would expect to replace the facility in the next 12 to 18 months, but see this action as a way to further reduce operating costs." -By Dawn Wotapka, Dow Jones Newswires; 212-416-2193; dawn.wotapka@dowjones.com

Stock News for Pulte Homes (PHM)
DateTimeHeadline
04/24/201510:37:42PulteGroup Price Target Increased to $18.00 by Analysts at Barclays...
04/24/201507:21:40Zelman & Associates Upgrades PulteGroup to Buy (PHM)
04/23/201513:21:13PulteGroup Posts a Surprise Drop in Profit--Update
04/23/201512:55:10PulteGroup Posts Surprise Profit Drop on Soft Orders
04/23/201510:03:14Quarterly Report (10-q)
04/23/201507:15:14Current Report Filing (8-k)
04/23/201506:30:00PulteGroup, Inc. Reports First Quarter 2015 Financial Results
04/11/201521:24:14The Housing Market: Myth Vs. Reality
04/09/201507:33:56JPMorgan downgrades two homebuilders after nice runs
04/01/201506:26:20Why PulteGroup Doesn't Look Like A Good Bet At Its 52-Week High
03/30/201510:00:00PulteGroup's First Quarter 2015 Earnings Release And Webcast...
03/26/201506:46:37ModernGraham Quarterly Valuation Of PulteGroup, Inc.
03/25/201516:41:04Additional Proxy Soliciting Materials (definitive) (defa14a)
03/25/201516:37:36Proxy Statement (definitive) (def 14a)
03/24/201504:04:09Existing Home Sales Miss Street Estimates - Underlying Data Still...
03/19/201507:25:27Mortgage Applications Confirm The Bearish Signal From Homebuilders
03/17/201502:21:56Homebuilders - Why So Blue?
03/17/201501:39:45Real Estate Stocks Face Risk This Week
03/10/201501:40:02Will Lumber's Decline Continue To Boost Home Builders?â
03/09/201508:30:22Homebuilder pair trade from Buckingham Research

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