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PulteGroup unit amends repurchase agreement to extend termination date

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PulteGroup unit amends repurchase agreement to extend termination date

Homebuilder PulteGroup Inc.'s Pulte Mortgage LLC unit amended and restated a master repurchase agreement to extend the termination date to July 30, 2020, among other changes.

The amendment also adjusts the maximum aggregate commitment to $190 million from Aug. 1 through and including Sept. 25; to $260 million from Sept. 26 through and including Oct. 10; to $190 million from Oct. 11 through and including Dec. 25; to $375 million from Dec. 26 through and including Jan. 13, 2020; to $190 million from Jan. 14, 2020, through and including March 25, 2020; and to $270 million from March 26, 2020, through and including July 30, 2020.

The amendment also lowers the daily adjusting London interbank offered rate to 1.80%, while the facility fee requirement drops to 0.12% per year.

Comerica Bank was the agent, lead arranger and a buyer, along with BMO Harris Bank NA and Branch Banking and Trust Co.