Bloomberg Law
Oct. 5, 2021, 5:37 PM

Opendoor Builds $9 Billion Debt War Chest to Buy U.S. Homes (1)

Patrick Clark
Patrick Clark
Bloomberg News

Opendoor Technologies Inc. is adding billions of dollars in borrowing capacity as it races to buy and sell more homes.

The company, the largest of an emerging group of tech-powered home flippers called iBuyers, entered into an amended mezzanine debt facility with a $3 billion limit, according to an Oct. 4 filing. That move, combined with other recent transactions, allows the company borrow as much as $9 billion through non-recourse asset-backed facilities.

Read more: Zillow Home-Flipping Bonds Draw Wall Street Deeper Into Housing

Opendoor’s main business involves buying a home, making repairs and putting it back on the ...

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