D.R. Horton, Inc. Announces Increase in Senior Unsecured Revolving Bank Credit Facility to $600 Million

  D.R. Horton, Inc. Announces Increase in Senior Unsecured Revolving Bank
  Credit Facility to $600 Million

Business Wire

FORT WORTH, Texas -- November 01, 2012

D.R. Horton, Inc. (NYSE:DHI), America’s Builder, announced that it has
received additional lending commitments from five banks to increase the
capacity of its five-year senior unsecured revolving credit facility to $600
million. The facility has also been amended to include an uncommitted
accordion feature which could increase the facility to $1 billion, subject to
certain conditions and availability of additional bank commitments. The
facility’s letter of credit sublimit is 50% of the revolving credit
commitment, or $300 million.

The Royal Bank of Scotland plc remains the Sole Lead Arranger and
Administrative Agent of the facility. The additional lenders joining the
facility as Co-Arrangers are Citibank N.A.; Deutsche Bank Trust Company
Americas; JPMorgan Chase Bank, N.A.; UBS AG, Stamford Branch and Wells Fargo
Bank.

Donald R. Horton, Chairman of the Board, said, “We are very pleased to welcome
these additional five banks as Co-Arrangers to our revolving credit facility.
We appreciate their commitment to D.R. Horton and their support of our
business as we prepare to take advantage of profitable growth opportunities
across our homebuilding markets.”

D.R. Horton, Inc., America’s Builder, is the largest homebuilder in the United
States, based on homes closed in the twelve-month period ended June 30, 2012.
Founded in 1978 in Fort Worth, Texas, D.R. Horton has operations in 75 markets
in 26 states in the East, Midwest, Southeast, South Central, Southwest and
West regions of the United States. The Company is engaged in the construction
and sale of high quality homes with sales prices ranging from $90,000 to over
$600,000. D.R. Horton also provides mortgage financing and title services for
homebuyers through its mortgage and title subsidiaries.

Portions of this document may constitute “forward-looking statements” as
defined by the Private Securities Litigation Reform Act of 1995. Although D.R.
Horton believes any such statements are based on reasonable assumptions, there
is no assurance that actual outcomes will not be materially different. All
forward-looking statements are based upon information available to D.R. Horton
on the date this release was issued. D.R. Horton does not undertake any
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Forward-looking statements in this release include that the facility could
increase to $1 billion, subject to certain conditions and availability of
additional bank commitments.

Factors that may cause the actual results to be materially different from the
future results expressed by the forward-looking statements include, but are
not limited to: our substantial debt, the incurrence of future debt and our
ability to comply with related debt covenants, restrictions and limitations;
potential deterioration in homebuilding industry conditions and the current
weak U.S. economy; the cyclical nature of the homebuilding industry and
changes in general economic, real estate and other conditions; constriction of
the credit markets, which could limit our ability to access capital and
increase our costs of capital; reductions in the availability of mortgage
financing and the liquidity provided by government-sponsored enterprises, the
effects of government programs, a decrease in our ability to sell mortgage
loans on attractive terms and an increase in mortgage interest rates; the
risks associated with our land and lot inventory; supply shortages and other
risks for acquiring land, building materials and skilled labor; increases in
the costs of owning a home; the effects of governmental regulations and
environmental matters on our homebuilding operations; the effects of
governmental regulation on our financial services operations; the
uncertainties inherent in home warranty and construction defect claims
matters; competitive conditions within our industry; our ability to effect any
future growth strategies successfully; the impact of an inflationary or
deflationary environment; our ability to realize the full amount of our
deferred income tax asset; and information technology failures and data
security breaches. Additional information about issues that could lead to
material changes in performance is contained in D.R. Horton’s annual report on
Form 10-K, and our most recent quarterly report on Form 10-Q, both of which
are filed with the Securities and Exchange Commission.

                               www.drhorton.com

Contact:

D.R. Horton, Inc.
Jessica Hansen, 817-390-8200
Director of Investor Relations
 
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