Toll Brothers, the largest U.S. luxury-home builder, said it obtained an $885 million revolving line of credit in a “strong vote of confidence” by its banks as the economy emerges from the worst recession since the 1930s. The new four-year facility replaces a $1.89 billion revolver that was set to expire in March 2011, the Horsham, Pennsylvania-based company said today in a statement. The new credit line can be increased to as much as $2 billion, Toll Brothers said.
Toll Brothers obtains new $885 million credit line in ‘vote of confidence’
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