PulteGroup Amends Credit Agreement

Ticker: PHM · Form: 8-K · Filed: 2024-08-15T00:00:00.000Z

Sentiment: neutral

Topics: credit-agreement, amendment, debt

Related Tickers: PHM

TL;DR

PHM amended its credit agreement on 8/14, changing its debt terms.

AI Summary

PulteGroup, Inc. (PHM) entered into a Second Omnibus Amendment to its Credit Agreement on August 14, 2024. This amendment modifies the existing credit facility, impacting its financial obligations. The filing also includes financial statements and exhibits related to this material definitive agreement.

Why It Matters

This amendment to PulteGroup's credit agreement could affect its borrowing capacity and financial flexibility, potentially impacting future investments and operations.

Risk Assessment

Risk Level: low — The filing concerns a routine amendment to a credit agreement, not a significant negative event.

Key Players & Entities

FAQ

What is the primary purpose of the Second Omnibus Amendment filed by PulteGroup, Inc.?

The primary purpose is to amend the existing Credit Agreement, as indicated by the filing of a 'Second Omnibus Amendment' on August 14, 2024.

What specific items are included in this 8-K filing?

This 8-K filing includes the entry into a Material Definitive Agreement, the creation of a Direct Financial Obligation, and Financial Statements and Exhibits.

When was the earliest event reported in this filing?

The earliest event reported in this filing occurred on August 14, 2024.

What is PulteGroup, Inc.'s state of incorporation?

PulteGroup, Inc. is incorporated in Michigan (MI).

What is the SIC code for PulteGroup, Inc.?

The Standard Industrial Classification (SIC) code for PulteGroup, Inc. is 1531, which corresponds to Operative Builders.

Filing Stats: 672 words · 3 min read · ~2 pages · Grade level 12.7 · Accepted 2024-08-15 16:24:20

Key Financial Figures

Filing Documents

01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On August 14, 2024 , Pulte Mortgage LLC ("Pulte Mortgage"), a wholly-owned subsidiary of PulteGroup, Inc. ("PulteGroup"), entered into a Second Omnibus Amendment and Joinder to Transaction Documents (the "Amendment") to its Master Repurchase Agreement (as so amended, the "Repurchase Agreement") dated as of August 16, 2023 with JPMorgan Chase, as Agent and representative of itself as a Buyer and the other Buyers ("Agent"), and the other Buyers listed therein. The purpose of the Repurchase Agreement is to finance the origination of mortgage loans by Pulte Mortgage. The Amendment extends the Repurchase Agreement to the earlier of (i) August 13, 2025, or (ii) the date when the Agents' commitments are terminated pursuant to the Repurchase Agreement, by order of any governmental authority, or by operation of law. The Amendment provides for a maximum aggregate commitment of $675 million, subject to certain sublimits, and is subject to an accordion feature in the Repurchase Agreement that could increase the maximum aggregate commitment to $725 million based on the Agent obtaining increased committed sums from existing Buyers. The maximum aggregate commitment is initially set at $675 million and decreases to $650 million on January 14, 2025, which continues until expiration. A copy of the Amendment is attached as Exhibit 10.1 hereto and is herein incorporated by reference. The above referenced summary of the material terms of the Amendment is qualified in its entirety by reference to Exhibit 10.1. ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT All the information set forth above under Item 1.01 is hereby incorporated by reference into this Item 2.03.

01 FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS 10.1 Second Omnibus Amendment and Joinder to Transaction Documents, dated August 14, 2024 . 104 Cover Page Interactive Data File (formatted in Inline XBRL)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PULTEGROUP, INC. Date: August 15, 2024 By: /s/ Todd N. Sheldon Name: Todd N. Sheldon Title: Executive Vice President, General Counsel and Corporate Secretary

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