Palm Harbor Homes Inc., Dallas, has announced that its CountryPlace Mortgage Ltd. subsidiary has arranged a $200 million warehouse borrowing facility.The two-year facility will be used to fund chattel loans originated by company-owned retail superstores, Palm Harbor said. The agreement provides for an advance rate of 80% against the outstanding principal balance of eligible receivables. The warehouse line replaces a one-year, $125 million facility with a 65% advance rate, the company said.
CountryPlace Snags Warehouse Line
March 23, 2004, 3:00 p.m. EST 1 Min Read
