Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - ST JOE Co | b78598e8vk.htm |
| EX-10.1 - EX-10.1 - ST JOE Co | b78598exv10w1.htm |
Exhibit 99.1
JOE Media Contact:
|
Jerry M. Ray 904.301.4430 jray@joe.com |
The St. Joe Company 245 Riverside Avenue Jacksonville, FL 32202 |
||
JOE Investor Contact:
|
David Childers 904.301.4302 dchilders@joe.com |
904-301-4200 |
FOR IMMEDIATE RELEASE
THE ST. JOE COMPANY ANNOUNCES INCREASED COMMITMENTS
ON ITS REVOLVING CREDIT FACILITY TO $125 MILLION
ON ITS REVOLVING CREDIT FACILITY TO $125 MILLION
Jacksonville, Florida — (December 23, 2009) — The St. Joe Company (NYSE: JOE), one of Florida’s
largest real estate development companies and Northwest Florida’s largest private landowner, today
announced that it has increased the commitments on its revolving credit facility from $100 million
to $125 million.
Deutsche Bank has joined Branch Banking and Trust Company as an additional lender to the
facility which remains undrawn and has a maturity date of September 19, 2012.
“We are pleased to have Deutsche Bank provide a $25 million commitment to our corporate
revolver,” said William S. McCalmont, St. Joe’s Executive Vice President and Chief Financial
Officer. “Our balance sheet remains solid and, although we have no current plans to draw on the
facility, the increased financial flexibility provides us great strength to help position the
Company for the next decade of growth.”
Additional information can be found in a Form 8-K to be filed with the U.S. Securities and
Exchange Commission today.
About St. Joe
The St. Joe Company (NYSE: JOE), a publicly held company based in Jacksonville, is one of
Florida’s largest real estate development companies and Northwest Florida’s largest private
landowner. The Company is primarily engaged in real estate development and sales, with significant
interests in timber. More information about St. Joe can be found on the Company’s web site at
www.joe.com.
Forward-Looking Statements
Statements in this press release that are not historical facts are “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including
statements about our beliefs, plans, goals, expectations and intentions. Forward-looking statements
involve risk and uncertainty, and there can be no assurance that the results described in such
statements will be realized. Such statements are based on our current expectations and we undertake
no obligation to publicly update or reissue any forward-looking statements. Risk factors that may
cause the actual
Page 2
results to differ are described in this press release and in various documents we
have filed with the U.S. Securities and Exchange Commission, including our Annual Report on Form
10-K for the year ended December 31, 2008, and our Quarterly Reports on Form 10-Q.
© 2009, The St. Joe Company. “JOE,” “St. Joe” and the
“Taking Flight” design are service marks of The St. Joe Company.
“Taking Flight” design are service marks of The St. Joe Company.