Builder and mortgage originator Beazer Homes USA Inc., Atlanta, has announced the closing of a new $750 million credit facility that replaces a $550 million facility.The facility, which matures in August 2009, has an accordion feature under which the total commitment may be increased to $1 billion subject to the availability of additional commitments, Beazer said. J.P. Morgan Securities Inc. was the lead arranger and sole bookrunner for the facility, in which 10 other banks are participants. Beazer, which also provides title and insurance services, can be found on the Web at http://www.beazer.com.
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