Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Meritage Homes CORP amended credit facility of $835.0 million maturing June 2, 2028.
- Instrument
- credit facility
- Principal
- $835.0 million
- Maturity
- June 2, 2028
- Event
- amendment
Exact text from the filing
On June 2, 2023, Meritage Homes Corporation (the “Company”) entered into the Eighth Amendment to Amended and Restated Credit Agreement (the “Eighth Amendment”), which amends that certain Amended and Restated Credit Agreement, dated as of June 13, 2014 (the “Credit Agreement”). Among other things, the Eighth Amendment increases the facility size to $835.0 million, extends the maturity date from December 22, 2026 to June 2, 2028, amends the accordion feature to permit the facility to increase by up to fifty percent of the facility size, increases the letter of credit sublimit up to the maximum size of the facility at the closing of the Eighth Amendment, eliminates the liquidity and interest coverage covenant and adjusts certain covenant basket amounts.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Meritage Homes CORP entered into Eighth Amendment to Amended and Restated Credit Agreement with Lenders valued at Amendment increases facility size to $835.0 million, extends maturity date to June 2, 2028, amends a (effective 2023-06-02).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Lenders
- Value
- Amendment increases facility size to $835.0 million, extends maturity date to June 2, 2028, amends a
- Effective
- 2023-06-02
Exact text from the filing
On June 2, 2023, Meritage Homes Corporation (the “Company”) entered into the Eighth Amendment to Amended and Restated Credit Agreement (the “Eighth Amendment”), which amends that certain Amended and Restated Credit Agreement, dated as of June 13, 2014 (the “Credit Agreement”). Among other things, the Eighth Amendment increases the facility size to $835.0 million, extends the maturity date from December 22, 2026 to June 2, 2028, amends the accordion feature to permit the facility to increase by up to fifty percent of the facility size, increases the letter of credit sublimit up to the maximum size of the facility at the closing of the Eighth Amendment, eliminates the liquidity and interest coverage covenant and adjusts certain covenant basket amounts. The foregoing description is qualified in its entirety by reference to the Eighth Amendment, a copy of which is filed as an exhibit to this Current Report on Form 8-K and is incorporated by reference herein.
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