Legacy Housing Corp (LEGH): debt financing — Legacy Housing enters $50M credit facility with Prosperity Bank, terminates Capital One deal

Legacy Housing Corp

New $50M credit facility with Prosperity Bank, including $25M accordion feature.
Prior credit agreement with Capital One terminated simultaneously.
Facility dated July 28, 2023; no financial terms beyond facility size disclosed.
The credit agreement includes revolving commitments and standard covenants.

item 1.01 item 1.02 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Legacy Housing Corp incurred credit facility of $50 million credit facility with Prosperity Bank.

Instrument: credit facility
Principal: $50 million credit facility
Counterparty: Prosperity Bank
Event: incurrence

Exact text from the filing

On July 28, 2023, Legacy Housing Corporation (“Legacy” or the “Company”) and Prosperity Bank (“Prosperity”) entered into a Credit Agreement (the “Credit Agreement” or the “Agreement”). Pursuant to the Agreement, Prosperity will provide Legacy with a $50 million credit facility.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Legacy Housing Corp entered into Credit Agreement with Prosperity Bank valued at $50 million credit facility (effective 2023-07-28).

Action: entry
Agreement: credit facility
Counterparty: Prosperity Bank
Value: $50 million credit facility
Effective: 2023-07-28

Exact text from the filing

On July 28, 2023, Legacy Housing Corporation (“Legacy” or the “Company”) and Prosperity Bank (“Prosperity”) entered into a Credit Agreement (the “Credit Agreement” or the “Agreement”). Pursuant to the Agreement, Prosperity will provide Legacy with a $50 million credit facility.

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Source: SEC EDGAR

accession 0001558370-23-012792

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