D.R. Horton Enters Material Agreement, Financial Obligation

Ticker: DHI · Form: 8-K · Filed: 2024-09-03T00:00:00.000Z

Sentiment: neutral

Topics: material-agreement, financial-obligation, debt

TL;DR

D.R. Horton just signed a big financial deal, potentially impacting their debt.

AI Summary

On August 29, 2024, D.R. Horton, Inc. entered into a material definitive agreement related to its senior notes. This filing also indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The company is a builder in the real estate and construction sector.

Why It Matters

This filing signals a significant financial commitment or arrangement for D.R. Horton, Inc., which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and financial obligations can introduce financial risks and complexities for a company.

Key Players & Entities

FAQ

What type of material definitive agreement did D.R. Horton, Inc. enter into?

The filing indicates an entry into a material definitive agreement related to its senior notes.

What is the date of the earliest event reported in this 8-K filing?

The date of the earliest event reported is August 29, 2024.

What is the principal executive office address of D.R. Horton, Inc.?

The principal executive office address is 1341 Horton Circle, Arlington, Texas 76011.

What is the SIC code for D.R. Horton, Inc.?

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

Under which section of the Securities Exchange Act is this Current Report filed?

This Current Report is filed Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Filing Stats: 723 words · 3 min read · ~2 pages · Grade level 9.8 · Accepted 2024-09-03 13:02:29

Filing Documents

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Effective August 29, 2024, DHI Mortgage Company, Ltd. ("DHI Mortgage"), a wholly-owned subsidiary of D.R. Horton, Inc., U.S. Bank National Association, as a buyer, and as administrative agent and other buyers listed as a buyer (collectively, the "Buyers") hereto entered into the Third Amendment (the "Amendment") to the Fourth Amended and Restated Master Repurchase Agreement dated as of February 18, 2022 as amended prior to the date hereof (as so amended, the "Amended Repurchase Facility") . The Amendment extends the term of the Amended Repurchase Facility through the earlier of (i) May 9, 2025 or (ii) the date when the Buyers' commitments are terminated pursuant to the Amended Repurchase Facility, by order of any governmental authority or by operation of law. The Amended Repurchase Facility provides financing and liquidity to DHI Mortgage by facilitating purchase transactions in which DHI Mortgage transfers eligible loans to Buyers against the transfer of funds by Buyers (thereby becoming purchased loans). The purchase transactions are based on the terms and conditions in the Amended Repurchase Facility and the ancillary or operative agreements attached thereto or referred to therein. Amounts outstanding under the Amended Repurchase Facility are not guaranteed by D.R. Horton, Inc. or any of the subsidiaries that guarantee the debt of its homebuilding, rental or Forestar operations. The Amendment is filed herewith as Exhibit 10.1 and is incorporated by reference into this Item 1.01. Capitalized terms not defined herein are defined in the Amended Repurchase Facility or as provided therein. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth above under Item 1.01. "Entry into a Material Definitive Agreement" is hereby incorporated by reference into this Item 2.03.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits 10.1 Third Amendment to Fourth Amended and Restated Master Repurchase Agreement, dated August 29 , 2024, among DHI Mortgage Company, Ltd., U.S. Bank National Association, as Administrative Agent, Sole Book Runner, Lead Arranger, and a Buyer, and all other Buyers. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document contained in Exhibit 101). 2 SIGNATURE 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. D.R. Horton, Inc. Date: September 3, 2024 By: / S / B ILL W. W HEAT Bill W. Wheat Executive Vice President and Chief Financial Officer 3

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