ARLINGTON, Texas, June 18 /PRNewswire-FirstCall/ -- D.R. Horton, Inc.
(NYSE: DHI) announced that it has increased its unsecured revolving credit
facility to $1.21 billion from $1.0 billion.
Donald R. Horton, Chairman of the Board, said, "We appreciate the
continued support of our lenders as we increase our revolving credit facility.
The increase will give us additional flexibility in our capital structure as
we deliver our record backlog and position the Company for future growth."
Founded in 1978, D.R. Horton, Inc. is engaged in the construction and sale
of high quality homes designed principally for the entry-level and first time
move-up markets. D.R. Horton currently builds and sells homes in 21 states
and 51 markets, with a geographic presence in the Midwest, Mid-Atlantic,
Southeast, Southwest and Western regions of the United States. The Company
also provides mortgage financing and title services for homebuyers through its
mortgage and title subsidiaries.
Portions of this document may constitute "forward-looking statements" as
defined by the Private Securities Litigation Reform Act of 1995. Although
D.R. Horton believes any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially different.
All forward-looking statements are based upon information available to D.R.
Horton on the date this release was issued. D.R. Horton does not undertake
any obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. Forward-
looking statements in this release relate to our future growth and our plans
to deliver our record backlog. Factors that may cause the actual results to
be materially different from the future results expressed by the forward-
looking statements include, but are not limited to: changes in general
economic, real estate and business conditions; changes in interest rates and
the availability of mortgage financing; governmental regulations and
environmental matters; the Company's substantial leverage; competitive
conditions within the industry; the availability of capital to the Company on
favorable terms; the Company's ability to integrate its acquisitions and
successfully effect the cost savings, operating efficiencies and revenue
enhancements that are believed available and otherwise to successfully effect
its other growth strategies. Additional information about issues that could
lead to material changes in performance is contained in D.R. Horton's annual
report on Form 10-K and most recent quarterly reports on Form 10-Q, which are
filed with the Securities and Exchange Commission.
WEBSITE ADDRESS: http://www.DRHORTON.com
SOURCE D.R. Horton, Inc.
