GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--
Century
Communities, Inc. (NYSE:CCS) (the “Company”), a top-25 U.S.
homebuilder of single-family homes, townhomes and flats in select
markets, today announced that it has expanded its senior unsecured
credit facility to $380 million. Borrowings under the credit facility
will bear interest at an unchanged rate of LIBOR plus a spread of 2.75%
to 3.25%, depending on Century’s leverage ratio. The term of the credit
facility has been extended one year to mature in October 2019. The
credit facility will be available for working capital needs, general
corporate purposes and growth initiatives.
“We are pleased to further strengthen our balance sheet metrics and
enhance our access to attractive capital resources,” said Dave
Messenger, Chief Financial Officer. “This expanded facility provides
significant flexibility for continued execution of our growth
initiatives into coming years. We appreciate our bank partners’
continued support and confidence in our strategic plan.”
Texas Capital Bank acted as sole Lead Arranger and ten additional banks
are participants in the credit facility. Additional details on pricing
and other terms of the credit facility may be found in the Form 8-K that
will be filed with the Securities and Exchange Commission and also
available on the Investor Relations section of our website at www.centurycommunities.com.
About Century Communities:
Founded in 2002, Colorado-based Century Communities is a builder of
single-family homes, townhomes and flats in select major metropolitan
markets in Colorado, Georgia, Nevada, Texas, and Utah. The Company
offers a wide variety of product lines and is engaged in all aspects of
homebuilding, including the acquisition, entitlement and development of
land and the construction, marketing and sale of homes. Century
Communities is a top-25 U.S. homebuilder based on homes delivered. To
learn more about Century Communities please visit www.centurycommunities.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and, as
such, may involve known and unknown risks, uncertainties and
assumptions. Forward-looking statements may be identified by the use of
words such as “anticipate,” “believe,” “expect,” “estimate,” “plan,”
“outlook,” and “project” and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Forward-looking statements should not be read as a
guarantee of future performance or results, and will not necessarily be
accurate indications of the times at, or by, which such performance or
results will be achieved. Forward-looking statements are based on
historical information available at the time the statements are made and
are based on management’s reasonable belief or expectations with respect
to future events, and are subject to risks and uncertainties, many of
which are beyond the Company’s control, that could cause actual
performance or results to differ materially from the belief or
expectations expressed in or suggested by the forward-looking
statements. Forward-looking statements speak only as of the date on
which they are made and the Company undertakes no obligation to update
any forward-looking statement to reflect future events, developments or
otherwise, except as may be required by applicable law. Investors are
referred to the Company’s Annual Report on Form 10-K for additional
information regarding the risks and uncertainties that may cause actual
results to differ materially from those expressed in any forward-looking
statement.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160822006005/en/
Century Communities, Inc.
Investor Relations:
303-268-8398
[email protected]
Source: Century Communities, Inc.