Standard Pacific Corp. (NYSE:SPF) announced that it has entered into a new $210 million unsecured revolving bank credit facility. The new three-year facility, which closed on February 28, 2011, matures in February 2014 and has an accordion feature under which the aggregate commitment may be increased up to $400 million, subject to the availability of additional bank commitments and certain other conditions. The new facility was arranged by J.P. Morgan Securities LLC and Citigroup Global Markets, Inc. as Joint Lead Arrangers and Joint Bookrunners. Other participant banks include Bank of America, Credit Suisse, Deutsche Bank, Bank of the West, Comerica and Union Bank.
Standard Pacific Corp. operates as a diversified builder of single-family attached and detached homes in the United States.
GreenHouse Holdings, Inc. (OTC Bulletin Board:GRHU.OB) is experiencing record growth in its single-family residence energy efficiency retrofit business with signed contracts of approximately $6.7 million in 2010, a 23% year over year increase. The trend is continuing with signed contracts in January 2011 showing a greater than 100% increase over signed contracts in January 2010. Historically, the company has recognized revenue on approximately 95% of such signed contracts. The company attributes this growth to a shift over the last couple years in the way homeowners spend on their residences, as well as a tidal wave of affordable sustainable technologies that are now available and have replaced the high priced remodels that fueled the construction industry for years. Low cost energy efficiency remodels that can beautify and save on the bottom line are increasingly becoming the focus of the new growth in the construction industry. The Company, which has primarily focused their residential energy-efficiency business in San Diego County, has now begun expansion into other counties throughout the state with plans to expand nationally in 2011.
GRHU offers a wide range of efficiency products for homeowners looking to reduce their energy and water consumption and even remove themselves from the grid.
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