PulteGroup will close a $250 million revolving credit facility on March 30, 2011, to reduce its operating costs, The Wall Street Journal reports. The Michigan-based builder will realize about $1.3 million in first-quarter charge. The facility is expected to be replaced within 12-18 months. PulteGroup has repaid about $3.1 billion of senior debt and other bond obligations over the last 36 months and has $1.5 billion in cash, giving it liquidity to fund its operations, adds The Associated Press.

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