The Real Deal Miami

Bluegreen gets $60M credit line

March 04, 2011 12:00PM

Boca Raton-based Bluegreen, which develops and operates timeshare
resorts, received a $60 million credit line from a syndicate of lenders
led by Liberty Bank. It must repay the loan by 2016. Shares of the
company, which is listed on the New York Stock Exchange, closed at $4.35
yesterday, down from a 52-week high of $6.30 in April. The loan
provides for an 85 percent advance of receivables. [SFBJ]