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KB Home boosts revolver to $800M

KB Home boosted the borrowing capacity under its revolving credit facility to $800 million from $500 million and extended the maturity date to October 2023 from July 2021.

The homebuilder said the capacity can be further expanded to $1 billion, subject to lender commitments.

Citibank NA is the administrative agent and a lender. Citibank, BofA Securities Inc., Bank of the West, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Wells Fargo Securities LLC are joint lead arrangers and joint book runners.

Bank of America NA, Bank of the West, Credit Suisse AG Cayman Islands branch, Deutsche Bank Securities Inc. and Wells Fargo Bank NA are syndication agents, certain of which are also lenders.

Additional lenders with commitments under the amended facility are Deutsche Bank AG New York branch, Fifth Third Bank, Texas Capital Bank NA, BMO Harris Bank NA, CIBC Bank USA, MUFG Union Bank NA, Regions Bank, and Zions Bancorporation NA doing business as California Bank & Trust.