---
schema_version: "secwatch.filing_event.v1"
accession: "0000822416-23-000037"
form_type: "8-K"
ticker: "PHM"
cik: "0000822416"
company_name: "PULTEGROUP INC/MI/"
filed_at: "2023-08-17T23:59:59+00:00"
generated_at: "2026-06-11T08:09:04.995313+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Pulte Mortgage enters $850M repurchase facility with JPMorgan to finance mortgage origination

## Summary
- Maximum aggregate commitment $850M with accordion feature to $900M; initial commitment $560M.
- Seasonal adjustments: increases to $850M on Dec 27, 2023; reduces to $600M Jan 16, 2024; increases to $700M June 26, 2024.
- Expires August 14, 2024; pricing based on Adjusted Term SOFR or default rate.
- Obligations not guaranteed by PulteGroup or its subsidiaries that guarantee PulteGroup's senior notes.
- Covenants include minimum Adjusted Tangible Net Worth, Leverage Ratio, Liquidity, and Net Income thresholds.

## SEC filing metadata
- accession: 0000822416-23-000037
- form_type: 8-K
- ticker: PHM
- cik: 0000822416
- company_name: PULTEGROUP INC/MI/
- filed_at: 2023-08-17T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/822416/000082241623000037/0000822416-23-000037-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/822416/000082241623000037/phm-20230816.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000822416-23-000037
- JSON: https://secwatch.observer/filing/0000822416-23-000037.json
- Plain text: https://secwatch.observer/filing/0000822416-23-000037.txt

## Key facts
- Debt Financings
  PULTEGROUP INC/MI/ incurred credit facility of $850 million with JPMorgan Chase, as Agent and representative of itself as a Buyer and the other Buyers at Adjusted Term SOFR Rate maturing August 14, 2024.
  - Instrument: credit facility
  - Principal: $850 million
  - Counterparty: JPMorgan Chase, as Agent and representative of itself as a Buyer and the other Buyers
  - Rate: Adjusted Term SOFR Rate
  - Maturity: August 14, 2024
  - Event: incurrence
  source text: ("PulteGroup"), entered into a Master Repurchase Agreement (the “Repurchase Agreement”) with JPMorgan Chase, as Agent and representative of itself as a Buyer and the other Buyers ("Agent"), and the other Buyers listed therein.
  evidence_url: https://www.sec.gov/Archives/edgar/data/822416/000082241623000037/0000822416-23-000037-index.htm
- Material Agreements
  PULTEGROUP INC/MI/ entered into Master Repurchase Agreement with JPMorgan Chase, as Agent and representative of itself as a Buyer and the other Buyers valued at maximum aggregate commitment of $850 million (effective 2023-08-16).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase, as Agent and representative of itself as a Buyer and the other Buyers
  - Value: maximum aggregate commitment of $850 million
  - Effective: 2023-08-16
  source text: On August 16, 2023 , Pulte Mortgage LLC (“Pulte Mortgage”), a wholly-owned subsidiary of PulteGroup, Inc. ("PulteGroup"), entered into a Master Repurchase Agreement (the “Repurchase Agreement”) with JPMorgan Chase, as Agent and representative of itself as a Buyer and the other Buyers ("Agent"), and the other Buyers listed therein.
  evidence_url: https://www.sec.gov/Archives/edgar/data/822416/000082241623000037/0000822416-23-000037-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.