D.R. Horton terminating revolver as a result of strong cash balance

By Sara Rosenberg

New York, May 4 - D.R. Horton Inc. provided notice to lenders that it would like to terminate its revolving credit facility, according to a news release.

The termination is expected to be effective on May 11.

The company explained that with its substantial cash balance and expected future cash position, it did not anticipate needing to borrow from the facility for the remainder of its term ending in December 2011.

D.R. Horton is a Fort Worth, Texas-based homebuilder.

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