Century Communities, Inc., a top-25 US homebuilder of single-family homes, townhomes and flats in select markets, today announced, that it has expanded its senior unsecured credit facility to $300 million, with an accordion feature allowing the company to increase the borrowing capacity to $400 million, subject to certain approvals. Borrowings under the credit facility will bear interest at a rate of LIBOR plus a spread of 2.75% to 3.25%, depending on Century’s leverage ratio. The credit facility will be available for working capital needs, general corporate purposes and growth initiatives. The term of the credit facility is unchanged and matures in 2018.

“The upsizing of our credit facility was completed on attractive terms to our company and further strengthens our capital resources,” said Dave Messenger, Chief Financial Officer. “We are now even better positioned to continue to execute on our strong pipeline of new community openings, pursue select land purchases, and capitalize on additional value-enhancing opportunities. We are encouraged by the continued support from our bank partners which demonstrates their increased confidence in our proven track record of profitable growth heading into 2016 and beyond.”

Texas Capital Bank acted as sole lead arranger and eight additional banks are participants in the credit facility.

Founded in 2002, Colorado-based Century Communities is a builder of single-family homes, townhomes and flats in select major metropolitan markets in Colorado, Texas, Nevada, and Georgia. The Company offers a wide variety of product lines and is engaged in all aspects of homebuilding, including the acquisition, entitlement and development of land and the construction, marketing and sale of homes. Century Communities is a top-25 U.S. homebuilder based on homes delivered.