LGI Homes Enters New Credit Agreement

TL;DR

LGI Homes just signed a new credit deal, likely raising capital.

AI Summary

On November 15, 2024, LGI Homes, Inc. entered into a material definitive agreement, specifically a credit agreement. This agreement creates a direct financial obligation for the registrant, indicating new debt financing. The filing also includes financial statements and exhibits related to this event.

Why It Matters

This filing indicates LGI Homes has secured new financing, which could impact its ability to fund operations, acquisitions, or expansion plans.

Risk Assessment

Risk Level: medium — Entering into new debt agreements can increase financial leverage and introduce repayment obligations, carrying inherent financial risks.

Key Players & Entities

• LGI Homes, Inc. (company) — Registrant
• November 15, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share LGIH NASDAQ Global Select Mar
• $400,000,000 — the "Company") completed an offering of $400,000,000 aggregate principal amount of its 7.000

Filing Documents

• lgih-20241115.htm (8-K) — 35KB
• ex425thsuppindenture7000sr.htm (EX-4.2) — 536KB
• 0001580670-24-000063.txt ( ) — 784KB
• lgih-20241115.xsd (EX-101.SCH) — 2KB
• lgih-20241115_lab.xml (EX-101.LAB) — 22KB
• lgih-20241115_pre.xml (EX-101.PRE) — 13KB
• lgih-20241115_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On November 15, 2024, LGI Homes, Inc. (the "Company") completed an offering of $400,000,000 aggregate principal amount of its 7.000% Senior Notes due 2032 (the "Notes"). The Notes were issued pursuant to an Indenture, dated as of July 6, 2018 (the "Base Indenture"), among the Company, the potential subsidiary guarantors listed therein and Wilmington Trust, National Association, as trustee under the Base Indenture, as amended and supplemented by the Fifth Supplemental Indenture thereto, dated as of November 15, 2024 (the "Supplemental Indenture" and, together with the Base Indenture, the "Indenture"), among the Company, the subsidiaries of the Company that guarantee the Company's obligations under its revolving credit facility and Regions Bank, as trustee for the Notes. The Indenture contains covenants that, among other things, limit the ability of the Company and its restricted subsidiaries to incur certain liens securing indebtedness without equally and ratably securing the Notes and the related guarantees, enter into certain sale and leaseback transactions, enter into certain business combinations with third parties and designate certain subsidiaries as unrestricted subsidiaries. These covenants are subject to significant exceptions. The Indenture also contains customary events of default. The offer and sale of the Notes and the related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act. This Current Report on Form 8-K does not constitute an offer to sell or solicitation of an offer to buy the Notes or any other security and shall not constitute an offer, solicitation or sale in any s

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. The exhibits listed below are filed herewith. Agreements and forms of agreements included as exhibits are included only to provide information to investors regarding their terms. Agreements and forms of agreements listed below may contain representations, warranties and other provisions that were made, among other things, to provide the parties thereto with specified rights and obligations and to allocate risk among them, and no such agreement or form of agreement should be relied upon as constituting or providing any factual disclosures about the Company, any other persons, any state of affairs or other matters. (d) Exhibits. 4.1 Indenture, dated as of July 6, 2018, among LGI Homes, Inc., the potential subsidiary guarantors listed therein and Wilmington Trust, National Association, as trustee (incorporated herein by reference to Exhibit 4.1 to the Current Report on Form 8-K (File No. 001-36126) of LGI Homes, Inc. filed on July 6, 2018). 4.2 Fifth Supplemental Indenture, dated as of November 15, 2024, among LGI Homes, Inc., the subsidiary guarantors listed therein and Regions Bank, as trustee for the Notes, governing LGI Homes, Inc.'s 7.000% Senior Notes due 2032, including the form of the Notes. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

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. LGI Homes, Inc. Date: November 15, 2024 By: /s/ Eric T. Lipar Eric T. Lipar Chief Executive Officer and Chairman of the Board

View Full Filing

View this 8-K filing on SEC EDGAR