Tri Pointe amends credit agreement to carve out financial services subsidiaries from covenant calculations

Tri Pointe Homes, Inc.

Excludes financial services subs' debt from Leverage Ratio calculation per Fourth Modification dated Dec 15, 2023.
Also excludes those subs' EBITDA and interest from Interest Coverage Ratio calculation.
No change to total commitments; $250M term loan outstanding and $52.5M in letters of credit.
Modification effective immediately; no Event of Default exists; all payments current.

Key facts

Extracted from this filing and checked against the source text.

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

Tri Pointe Homes, Inc. amended Fourth Modification Agreement with U.S. Bank National Association (effective 2023-12-15).

Action: amendment
Agreement: credit facility
Counterparty: U.S. Bank National Association
Effective: 2023-12-15

Exact text from the filing

On December 15, 2023, Tri Pointe Homes, Inc. (the “Company”) entered into a Fourth Modification Agreement (the “Modification”) to its Second Amended and Restated Credit Agreement, dated as of March 29, 2019 (as modified, supplemented or amended, the “Credit Agreement”), among the Company, U.S. Bank National Association, as administrative agent, and the lenders party thereto.

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Tri Pointe Homes, Inc. filing history →

Source: SEC EDGAR

accession 0001561680-23-000106

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