Loan & DebtJun 29, 2026, 04:37 PM
Meritage Homes Increases Credit Facility to $980M, Extends Maturity
AI Summary
Meritage Homes Corporation entered into the Twelfth Amendment to its Amended and Restated Credit Agreement, enhancing its financial flexibility. The amendment increases the credit facility size to $980.0 million and extends the maturity date by approximately one year to June 24, 2031. Additionally, the accordion feature now allows for a potential increase in the facility size to $1.470 billion, and the adjusted SOFR rate has been revised.
Key Highlights
- Credit facility size increased to $980.0 million from $910.0 million.
- Accordion feature amended to permit facility size increase to $1.470 billion from $1.365 billion.
- Maturity date extended from July 9, 2030, to June 24, 2031.
- Adjusted SOFR rate revised to include a 0.10% spread.
- Minimum Consolidated Tangible Net Worth test revised to $3,531,291,000 plus 50% of cumulative net income and equity offerings from March 31, 2026.
Price Impact
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