M/I Homes gets $140 million secured revolving credit facility

M/I Homes gets $140M credit facility

COLUMBUS, Ohio — M/I Homes Inc. said Monday that it has obtained a three-year, $140 million secured revolving credit facility from nine banks.

The credit facility replaces one worth $150 million that was set to mature in October. PNC Bank is the administrative agent for the new credit facility.

M/I Homes said that the maximum facility was originally set at $125 million but was oversubscribed.

Shares of the homebuilder closed down 13 cents at $10.74.