trending Market Intelligence /marketintelligence/en/news-insights/trending/WLRseKwIZnz-8D9NZptPOg2 content esgSubNav
In This List

William Lyon boosts, extends credit facility

Blog

Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


William Lyon boosts, extends credit facility

A subsidiary of WilliamLyon Homes amended its existing $130.0 million revolving creditfacility with a groupof lenders to provide for total lending commitments of $145.0 million.

William Lyon Homes Inc.'s amended facility also comes withan uncommitted accordion feature for up to a maximum $200.0 million, subject tocertain conditions and a sublimit of $50.0 million for letters of credit. Themaximum leverage ratio covenant was also amended for the extension of thetiming of gradual step-downs.

Subject to certain conditions, the facility's maturity datewas also extended to July 1, 2019, from Aug. 7, 2017, according to the filing.

The parent guarantees the facility, in which the proceedsare planned, to be used for working capital and other general corporatepurposes.

William Lyons entered into the July 1 agreement withadministrative agent Credit Suisse AG Cayman Islands Branch and the otherlenders, Comerica Bank, Citibank NA and JPMorgan Chase Bank NA.