secwatch.observer — SEC 8-K summary
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Issuer:     KB HOME (KBH)
CIK:        0000795266
Form:       8-K
Filed at:   2022-08-31T23:59:59+00:00
Accession:  0001193125-22-235213
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

KB Home enters $310M term loan to refinance 7.625% Senior Notes due 2023
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- Up to $310M senior unsecured term loan (expandable to $400M) with Wells Fargo as administrative agent.
- No initial draw; may draw through Nov 23, 2022; proceeds to redeem 7.625% Senior Notes due May 15, 2023.
- Interest rates: adjusted term SOFR or base rate plus spread 1.35%-1.90% or 0.35%-0.90% based on leverage.
- Maturity August 25, 2026; financial covenants include tangible net worth, leverage, liquidity, borrowing base.
- Change in control triggers repayment; customary events of default with cure periods.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/795266/000119312522235213/0001193125-22-235213-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/795266/000119312522235213/d348624d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-235213

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