M/I Homes subsidiary amends mortgage warehousing credit facility; director Carter retires

M/I HOMES, INC.

Fourth AR Mortgage Warehousing Agreement among M/I Financial, Comerica Bank, Huntington, Truist; replaces prior agreement with BMO Harris.
Maturity extended to May 24, 2024; pricing index changed from BSBY to Daily Adjusting 1-month SOFR plus 0.10% adjustment.
Applicable margin reduced from 1.90% to 1.65% per annum; SOFR floor increased from 0.25% to 0.50%.
Loan Modification sub-limit and associated fee removed; all other material terms unchanged.
Director William H. Carter to retire effective May 31, 2023, citing potential change in independence status.

item 1.01 item 5.02 item 9.01

Executive movements

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Departed

William H. Carter

Director

MHO · M/I HOMES, INC.

Effective: 2023-05-31
Filed: May 26, 2023, 7:59 PM ET

On May 24, 2023, William H. Carter notified the Company of his decision to retire from the board of directors of the Company effective May 31, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

William H. Carter retired as Director at M/I HOMES, INC..

Action: retired
Role: Director

Exact text from the filing

On May 24, 2023, William H. Carter notified the Company of his decision to retire from the board of directors of the Company effective May 31, 2023.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

M/I HOMES, INC. entered into Fourth Amended and Restated Mortgage Warehousing Agreement with Comerica Bank, as administrative agent, and the lenders party thereto, which include Comerica Bank, The Huntington National Bank, and Truist Bank (effective 2023-05-26).

Action: entry
Agreement: credit facility
Counterparty: Comerica Bank, as administrative agent, and the lenders party thereto, which include Comerica Bank, The Huntington National Bank, and Truist Bank
Effective: 2023-05-26

Exact text from the filing

On May 26, 2023, M/I Financial, LLC (“M/I Financial”), a wholly-owned subsidiary of M/I Homes, Inc. (the “Company”), entered into a Fourth Amended and Restated Mortgage Warehousing Agreement (the “2023 Warehouse Agreement”) among M/I Financial, as borrower, Comerica Bank, as administrative agent, and the lenders party thereto, which include Comerica Bank, The Huntington National Bank, and Truist Bank.

View on SEC.gov

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M/I HOMES, INC. filing history →

Source: SEC EDGAR

accession 0000799292-23-000082

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