Borrowing Capacity Increased to $1.0 Billion from $800
Million; No Amount Currently Outstanding
SCOTTSDALE, Ariz., Sept. 13,
2022 /PRNewswire/ -- Taylor Morrison Home Corporation
(NYSE: TMHC), a leading national land developer and homebuilder,
today announced that it entered into an amended credit agreement to
increase the aggregate commitment available under its revolving
credit facility from $800 million to
$1.0 billion. The incremental
borrowing capacity provides additional liquidity and financial
flexibility, and no borrowings were outstanding as of the closing
date.
"The increase in our revolving credit facility to $1.0 billion further enhances our strong capital
position, with which we are well equipped to maintain a disciplined
and opportunistic capital allocation approach," said Lou Steffens, Executive Vice President and Chief
Financial Officer.
About Taylor Morrison
Headquartered in Scottsdale,
Arizona, Taylor Morrison is
one of the nation's leading developers and homebuilders. We serve a
wide array of consumers from coast to coast, including first-time,
move-up, luxury, and 55-plus active lifestyle homebuyers under our
family of brands—including Taylor
Morrison, Esplanade, Darling Homes Collection by
Taylor Morrison, and Christopher
Todd Communities built by Taylor
Morrison. From 2016-2022, Taylor
Morrison has been recognized as America's Most Trusted®
Builder by Lifestory Research. Our strong commitment to
sustainability, our communities, and our team is highlighted in our
latest Environmental, Social, and Governance (ESG) Report on
our website.
For more information about Taylor
Morrison, please visit www.taylormorrison.com.
Forward-Looking Statements
This press release includes "forward-looking statements." These
statements are subject to a number of risks, uncertainties and
other factors that could cause our actual results, performance,
prospects or opportunities, as well as those of the markets we
serve or intend to serve, to differ materially from those expressed
in, or implied by, these statements. You can identify these
statements by the fact that they do not relate to matters of a
strictly factual or historical nature and generally discuss or
relate to forecasts, estimates or other expectations regarding
future events. Generally, the words "believe," "expect," "intend,"
"estimate," "anticipate," "project," "may," "can," "could,"
"might," "will" and similar expressions identify forward-looking
statements, including statements related to expected financial,
operating and performance results, planned transactions, planned
objectives of management, future developments or conditions in the
industries in which we participate and other trends, developments
and uncertainties that may affect our business in the future.
Forward-looking statements speak only as of the date they are made.
We undertake no obligation to publicly update any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law. All of our forward-looking
statements are expressly qualified in their entirety by the
cautionary statements contained or referenced in our most recent
Annual Report on Form 10-K, including those described under the
heading "Risk Factors" in Part I, Item 1A.
CONTACT: Investor Relations
Taylor Morrison Home Corporation
(480) 734-2060
investor@taylormorrison.com
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SOURCE Taylor Morrison