Homebuilder LGI Homes Inc. amended a credit agreement governing a $750.0 million revolving credit facility, which can be boosted by up to $50.0 million at its request.
The credit agreement provides for considerably similar terms and provisions to the 2017 credit agreement.
The facility matures on May 31, 2021, and prior to each annual anniversary of the credit agreement, LGI Homes may request a one-year extension of the maturity date.
The initial interest rate under the credit agreement is one-month London Interbank Offered Rate plus 2.90%.
Wells Fargo Bank NA is the administrative agent, Wells Fargo Securities LLC is sole lead arranger and sole book runner, and Fifth Third Bank plus U.S. Bank NA serve as documentation agents.
