Effective December 18, 2024, D.R. Horton, Inc. (DHI, Financial) has announced a significant amendment to its existing Credit Agreement, originally dated September 7, 2012. The amendment, known as Amendment No. 12, involves collaboration with Mizuho Bank, Ltd., acting as the successor Administrative Agent, an Issuing Bank, and a Lender, along with other participating lenders.
Key highlights of Amendment No. 12 include the extension of the Revolving Credit Facility Termination Date for the Series A Revolving Credit Commitments to December 18, 2029. Additionally, the amendment modifies the pricing structure for these commitments and increases the Aggregate Revolving Credit Commitment to $2.23 billion. This strategic move is expected to enhance D.R. Horton's financial flexibility and support its ongoing operations and growth initiatives.
The lenders involved in this agreement, along with their affiliates, have maintained various business relationships with D.R. Horton, providing investment banking, commercial banking, and financial advisory services. These relationships are expected to continue, with the lenders receiving fees and commissions for their services.
This amendment underscores D.R. Horton's commitment to maintaining robust financial health and leveraging strategic partnerships to support its business objectives. For a detailed understanding of the terms and conditions of Amendment No. 12, stakeholders are encouraged to refer to the full document attached to the company's Form 8-K filing.
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