Meritage extends credit facility maturity to 2030, updates net worth covenant

Meritage Homes CORP

Maturity date extended from June 12, 2029 to July 9, 2030 under Eleventh Amendment.
Total commitments unchanged at $910M; letter of credit sublimit set at $370M.
Minimum tangible net worth covenant reset: floor of $3.602B plus 50% of positive net income and equity proceeds after March 31, 2025.
Lenders include Mizuho (agent), JPMorgan, Bank of America, and others; no new borrowing.
Guarantors reaffirm obligations; no defaults or events of default.

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