First Chicago NBD Corp.'s flagship is leading a $150 million revolving credit line for Beazer Homes USA Inc..
Beazer said the unsecured loan, which replaces an $80 million line with three banks, has been arranged with a syndicate of those three banks and four others.
First National Bank of Chicago is agent, and the syndicate also includes First National Bank of Boston, Bank One Arizona, Guaranty Federal Bank, Bank of America Illinois, Comerica Bank, and SunTrust Bank.
David S. Weiss, executive vice president and chief financial officer of Beazer Homes, said the new loan has lower interest rates and less restrictive covenants.
Beazer Homes is the country's seventh-largest single-family home builder, with operations in Arizona, California, Florida, Georgia, Nevada, North Carolina, South Carolina, Tennessee, and Texas.