William Lyon Homes and its wholly owned unit obtained an unsecured revolving credit facility of up to $325.0 million.
The new facility will mature May 21, 2021, and has a conditional, uncommitted accordion feature under which the aggregate amount can be expanded to up to $500.0 million, as well as a sublimit of $50.0 million for letters of credit.
The homebuilder used part of the proceeds to refinance an existing $170 million facility, with the remaining funds earmarked for ongoing working capital needs, among other general corporate purposes.
JPMorgan Chase Bank NA is a lender and will be the administrative agent for the facility.
