---
schema_version: "secwatch.filing_event.v1"
accession: "0000882184-23-000075"
form_type: "8-K"
ticker: "DHI"
cik: "0000882184"
company_name: "HORTON D R INC /DE/"
filed_at: "2023-04-10T23:59:59+00:00"
generated_at: "2026-06-17T04:25:08.455419+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# D.R. Horton subsidiary DHI Mortgage enters $300M repurchase facility with RBC

## Summary
- DHI Mortgage (D.R. Horton unit) signed $300M repurchase facility with Royal Bank of Canada.
- Facility is uncommitted; RBC has no obligation to fund purchases of eligible residential mortgage loans.
- Interest rate based on SOFR plus pricing spread agreed per transaction.
- Financial covenants require minimum tangible net worth, liquidity, and max debt-to-net-worth ratio.
- Obligations are not guaranteed by D.R. Horton or its homebuilding/rental subsidiaries.

## SEC filing metadata
- accession: 0000882184-23-000075
- form_type: 8-K
- ticker: DHI
- cik: 0000882184
- company_name: HORTON D R INC /DE/
- filed_at: 2023-04-10T23:59:59+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/882184/000088218423000075/0000882184-23-000075-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/882184/000088218423000075/dhi-20230404.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000882184-23-000075
- JSON: https://secwatch.observer/filing/0000882184-23-000075.json
- Plain text: https://secwatch.observer/filing/0000882184-23-000075.txt

## Key facts
- Debt Financings
  HORTON D R INC /DE/ incurred credit facility of up to $300 million with Royal Bank of Canada at SOFR plus a pricing spread.
  - Instrument: credit facility
  - Principal: up to $300 million
  - Counterparty: Royal Bank of Canada
  - Rate: SOFR plus a pricing spread
  - Event: incurrence
  source text: The Repurchase Facility provides DHI Mortgage with uncommitted borrowing capacity of up to $300 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/882184/000088218423000075/0000882184-23-000075-index.htm
- Material Agreements
  HORTON D R INC /DE/ entered into Master Repurchase Agreement with Royal Bank of Canada valued at up to $300 million (effective 2023-04-04).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Royal Bank of Canada
  - Value: up to $300 million
  - Effective: 2023-04-04
  source text: Effective April 4, 2023, DHI Mortgage Company, Ltd., a Texas limited partnership (“DHI Mortgage”), and a wholly-owned subsidiary of D.R. Horton, Inc., a Delaware corporation, and Royal Bank of Canada ( “RBC” ) entered into a Master Repurchase Agreement (the “Repurchase Agreement”) pursuant to which DHI Mortgage may from time to time sell to RBC, and later repurchase, eligible residential mortgage loans (the "Repurchase Facility")
  evidence_url: https://www.sec.gov/Archives/edgar/data/882184/000088218423000075/0000882184-23-000075-index.htm

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