secwatch.observer — SEC 8-K summary
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Issuer:     PULTEGROUP INC/MI/ (PHM)
CIK:        0000822416
Form:       8-K
Filed at:   2023-08-17T23:59:59+00:00
Accession:  0000822416-23-000037
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/822416/000082241623000037/0000822416-23-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/822416/000082241623000037/phm-20230816.htm
  HTML page:      https://secwatch.observer/filing/0000822416-23-000037

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