Lennar Obtains $2.7B LOC

Lennar Corp., a Miami-based homebuilder, has obtained a new $2.7 billion unsecured revolving credit facility to replace its $2.2 billion credit line.The company said the five-year credit facility was syndicated to 46 lenders led by JP Morgan Chase Bank NA as joint lead arranger and administrative agent and Deutsche Bank Trust Co. Americas as joint lead arranger and syndication agent. The facility also includes an accordion feature that provides Lennar with access to an additional $500 million of financing. The homebuilder can be found online at http://www.lennar.com