Pulte Homes (NYSE:PHM)
Historical Stock Chart
5 Years : From Oct 2012 to Oct 2017
PulteGroup Inc. (PHM), one of the U.S.'s largest builders, will terminate its $250 million revolving credit facility March 30.
While Michigan-based Pulte will realize a roughly $1.3 million first-quarter charge, the move will save an undisclosed amount of money.
"With $1.5 billion in cash on our balance sheet at year end, we have ample liquidity to fund current operations and near-term growth opportunities," CFO Roger Cregg said in a release. "We would expect to replace the facility in the next 12 to 18 months, but see this action as a way to further reduce operating costs."
-By Dawn Wotapka, Dow Jones Newswires; 212-416-2193; firstname.lastname@example.org