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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

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