debt
confidence high
sentiment positive
materiality 0.50
Century Communities ups revolver to $1.2B, extends maturity to 2030, drops 0.10% SOFR adjustment
Century Communities, Inc.
- First Amendment to Credit Agreement dated Sept 30, 2026 increased aggregate commitments to $1.2B and added Flagstar Bank and Morgan Stanley Senior Funding as new lenders.
- Facility Termination Date extended to Nov 1, 2030 for extending lenders; BMO Bank N.A. became a Non-Extending Lender and was removed as an Issuing Bank.
- Eliminated the 0.10% credit spread adjustment applicable to SOFR-based borrowings under the Credit Agreement.
- Tangible net worth covenant set at no less than approximately $1,766,519,096 plus 50% of post-June 30, 2026 equity proceeds and 50% of subsequent quarterly net income.
- Must deliver certified charter documents for CCC Holdings LLC, Century Communities of Nevada Realty LLC, and WJHID LLC within 5 business days; breach is an Event of Default.