Launch VideoBeazer Rides Housing to New $150 Million Loan
Beazer Homes is benefiting from a resumption of lending to the U.S. housing industry as banks open the taps for a builder that hasn’t generated enough cash to cover interest expenses for five years.
Beazer, which reported net losses in eight of the last nine quarters, replaced a $22 million credit line due to expire Oct. 1 with a $150 million, three-year loan at a higher rate. Banks are returning after three years to offer credit lines to home builders including Beazer as the housing market stabilizes, said Vicki Bryan, analyst at Gimme Credit.
