secwatch.observer — SEC 8-K summary
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Issuer:     M/I HOMES, INC. (MHO)
CIK:        0000799292
Form:       8-K
Filed at:   2022-05-27T23:59:59+00:00
Accession:  0000799292-22-000046
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

M/I Financial expands warehouse credit line to $200M base, $300M seasonal cap, extends to May 2023
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- Base commitment raised from $175M to $200M; seasonal borrowing capacity up to $300M from Nov 2022 to Feb 2023.
- Pricing index switched from 1-month LIBOR to 1-month BSBY; margin unchanged at 1.9%; floor rate lowered from 0.50% to 0.25%.
- Minimum liquidity covenant increased to $10M; tangible net worth floor raised to $20M; maximum leverage ratio upped to 12.0x.
- Maturity extended to May 26, 2023, replacing Second Amended Mortgage Warehousing Agreement dated June 24, 2016.
- Facility funds eligible mortgage loans originated by M/I Financial; lenders are Comerica Bank, Huntington, and BMO Harris.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799292/000079929222000046/0000799292-22-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799292/000079929222000046/mho-20220527.htm
  HTML page:      https://secwatch.observer/filing/0000799292-22-000046

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer