Meritage shares rise after revised credit accord
BOSTON (Reuters) - Shares of home builder Meritage Homes Corp (MTH.N) rose 9 percent on Monday after the company said it had reached an agreement to revise the terms of a credit line.
Guaranty Bank has agreed to reduce the borrowing capacity on its credit line to $500 million from $800 million and increased its interest rate by 1 percentage point, Meritage said in a filing with the U.S. Securities and Exchange Commission dated July 18.
Meritage shares were up $1.42 at $17.43 on the New York Stock Exchange. Earlier, they had been as high as $18.60, the highest since early June.
(Reporting by Scott Malone, editing by Maureen Bavdek)
- Tweet this
- Share this
- Digg this
- Malaysian plane presumed crashed; questions over false IDs |
- Malaysian jetliner may have turned back before vanishing |
- CORRECTED-UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- WRAPUP 6-Malaysian jetliner may have turned back before vanishing
- WRAPUP 2-Malaysian plane presumed crashed; questions over false IDs