LGI Homes, Inc. (LGIH): debt financing — LGI Homes ups credit facility to $1.205B, extends maturity to 2028 for 79.7% of commitments

LGI Homes, Inc.

Total commitments increased to $1.205B, with an accordion feature for up to $95M additional.
Maturity extended to April 28, 2028 for $960M (79.7% of commitments); 20.3% mature April 28, 2025.
Amendment includes lender additions and other terms; Wells Fargo remains administrative agent.
Borrower represented no default; reaffirmed all representations and warranties.
This refinancing provides increased liquidity and extended debt maturity profile.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

LGI Homes, Inc. amended credit facility of $1.205 billion with Wells Fargo Bank, National Association maturing April 28, 2028.

Instrument: credit facility
Principal: $1.205 billion
Counterparty: Wells Fargo Bank, National Association
Maturity: April 28, 2028
Event: amendment

Exact text from the filing

The Credit Agreement Amendment among other things, (a) increased the total commitments under the Credit Agreement to $1.205 billion, which can be increased at the request of the Company by up to $95 million, subject to the terms and conditions of the Credit Agreement, and (b) extended the maturity of the commitments of certain lenders under the Credit Agreement to April 28, 2028.

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

LGI Homes, Inc. amended Fourth Amendment to Fifth Amended and Restated Credit Agreement with several financial institutions and Wells Fargo Bank, National Association, as administrative agent valued at $1.205 billion (effective 2023-12-05).

Action: amendment
Agreement: credit facility
Counterparty: several financial institutions and Wells Fargo Bank, National Association, as administrative agent
Value: $1.205 billion
Effective: 2023-12-05

Exact text from the filing

LGI Homes, Inc. (the “Company”) entered into a Fourth Amendment to Fifth Amended and Restated Credit Agreement with several financial institutions and Wells Fargo Bank, National Association, as administrative agent (the “Credit Agreement Amendment”), which amended the Fifth Amended and Restated Credit Agreement, dated as of April 28, 2021

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LGI Homes, Inc. filing history →

Source: SEC EDGAR

accession 0001580670-23-000111

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