Document/ExhibitDescriptionPagesSize 1: 8-K Current Report HTML 34K
2: EX-10.1 Material Contract HTML 55K
7: R1 Cover Page Document HTML 45K
9: XML IDEA XML File -- Filing Summary XML 12K
12: XML XBRL Instance -- dhi-20240216_htm XML 14K
8: EXCEL IDEA Workbook of Financial Report Info XLSX 8K
4: EX-101.DEF XBRL Definitions -- dhi-20240216_def XML 41K
5: EX-101.LAB XBRL Labels -- dhi-20240216_lab XML 83K
6: EX-101.PRE XBRL Presentations -- dhi-20240216_pre XML 40K
3: EX-101.SCH XBRL Schema -- dhi-20240216 XSD 11K
10: JSON XBRL Instance as JSON Data -- MetaLinks 14± 20K
11: ZIP XBRL Zipped Folder -- 0000882184-24-000018-xbrl Zip 27K
(Registrant’s telephone number, including area code)
______________________________
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
i☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
i☐
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
i☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
i☐
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbol
Name of Each Exchange on Which Registered
iCommon
Stock, par value $.01 per share
iDHI
iNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined
in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company i☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item
1.01. Entry into a Material Definitive Agreement.
Effective February 16, 2024, DHI Mortgage Company, Ltd., a Texas limited partnership ("DHI Mortgage"), and a wholly-owned subsidiary of D.R. Horton, Inc., a Delaware corporation, U.S. Bank National Association, as a buyer, and as administrative agent ("Administrative Agent") and other buyers listed as a buyer (collectively, the "Buyers") hereto entered into the Second 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 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.
The Amended Repurchase Facility includes a Maximum Aggregate Commitment amount of $1.6 billion, with an accordion feature that allows for a Maximum Aggregate Commitment amount of up to $2.0 billion, based on the Administrative Agent obtaining increased committed sums from existing Buyers or through the addition
of new buyers. 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 term of the Amended Repurchase Facility extends through the earlier of (i) February 13, 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. DHI Mortgage effectively pays interest on each advance under the Amended Repurchase Facility at a per annum rate equal to the Pricing Rate, as defined in the Amended Repurchase Facility.
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.
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.
