D.R. Horton subsidiary extends repurchase facility to $1.925B, maturity to 2029

HORTON D R INC /DE/

• Maximum commitment increased to $1.925B; maturity extended to May 4, 2029 with up to three one-year extensions.
• Applicable margin set at 1.90%; non-usage fee of 0.20% per annum on unused commitment.
• Financial covenants: minimum consolidated tangible net worth $200M; max debt-to-tangible net worth 8.0:1.
• Facility is not guaranteed by D.R. Horton or its homebuilding/rental/forestar subsidiaries.
• Manufacturers and Traders Trust Co. and Bank of Nova Scotia added as joint lead arrangers.

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