secwatch.observer — SEC 8-K summary
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Issuer:     LGI Homes, Inc. (LGIH)
CIK:        0001580670
Form:       8-K
Filed at:   2024-10-11T23:59:59+00:00
Accession:  0001580670-24-000043
Event type: debt
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LGI Homes amends credit facility: extends maturities and loosens speculative inventory covenant
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- Extended maturity on $1.085B (90% of commitments) to April 28, 2028; $120M matures April 28, 2025.
- Speculative+model housing unit cap raised from 50% to 65% of greater of 6-month annualized or 12-month closings.
- Amendment dated October 9, 2024; effective as of September 30, 2024 for inventory covenant change.
- Non-extending lenders include BMO, PNC, Chang Hwa, Bank of Taiwan, Hua Nan, Mega, Taiwan Coop, Hancock Whitney.
- Borrower reaffirmed no defaults, no offsets; subsidiary guarantors consented.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1580670/000158067024000043/0001580670-24-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1580670/000158067024000043/lgih-20241009.htm
  HTML page:      https://secwatch.observer/filing/0001580670-24-000043

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