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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
02/02/201618:50:13Statement of Changes in Beneficial Ownership (4)
01/28/201609:48:00U.S. Hot Stocks: Hot Stocks to Watch
01/28/201609:28:00PulteGroup Profit Grows on Higher Closings, Orders -- Update
01/28/201606:54:25Current Report Filing (8-k)
01/28/201606:30:00PulteGroup Reports Financial Results For 2015 Fourth Quarter
01/21/201608:00:00Del Webb To Open Newest Community At Chateau Elan
01/15/201607:30:00PulteGroup Completes Acquisition of Certain Homebuilding Assets...
12/22/201514:00:00PulteGroup's Fourth Quarter 2015 Earnings Release And Webcast...
12/17/201512:58:03Current Report Filing (8-k)
12/16/201509:05:00PulteGroup to Acquire Certain Homebuilding Assets of John Wieland...
12/14/201511:15:22Current Report Filing (8-k)
12/08/201507:00:00More Single Female Baby Boomers Buying New Homes
12/03/201515:46:32Current Report Filing (8-k)
12/02/201516:45:00PulteGroup Raises Quarterly Dividend 13% to $0.09 Per Share and...
12/02/201516:45:00PulteGroup Appoints Richard W. Dreiling and James J. Grosfeld...
11/23/201508:00:00PulteGroup's Presentation at the Citigroup's 2015 Basic Materials...
11/23/201506:04:03Stocks Billionaires Are Bailing Out Of -- Should You, Too?
11/17/201508:00:00Del Webb To Open Its Newest Active Adult Community In Spring...
11/03/201510:37:00PulteGroup's Presentation at the UBS Building & Building Products...
10/31/201510:40:02Meritage Homes Corp Earnings: Cracks in the Foundation, or Building...

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