8-KMaterial AgreementsFinancial EventsExhibits & Filings

HORTON D R INC /DE/ 8-K Report, Material Agreement (Dec 21, 2005)

Filed December 21, 2005For Securities:DHI

Summary

D.R. Horton, Inc. (DHI) filed an 8-K on December 21, 2005, primarily to disclose the execution of a new Revolving Credit Agreement. This agreement, dated December 16, 2005, involves D.R. Horton as the borrower, Wachovia Bank, National Association as the administrative agent, and various lenders. The filing incorporates information from Item 1.01 (Entry into a Material Definitive Agreement) and Item 1.02 (Termination of a Material Definitive Agreement) into Item 2.03 (Creation of a Direct Financial Obligation), highlighting the creation of a significant financial obligation through this credit facility. This new credit agreement represents a material definitive agreement and a direct financial obligation for D.R. Horton. Investors should note that the specifics of the credit terms, including the amount, interest rates, maturity date, and covenants, are detailed within the Revolving Credit Agreement itself, which is filed as an exhibit to this report. This filing indicates potential changes in the company's financing structure or capital availability.

Key Highlights

  • 1D.R. Horton entered into a new Revolving Credit Agreement on December 16, 2005.
  • 2Wachovia Bank, National Association is acting as the administrative agent for the agreement.
  • 3The agreement establishes a direct financial obligation for D.R. Horton.
  • 4The Revolving Credit Agreement is filed as an exhibit (Exhibit 10.1) to the 8-K.
  • 5This filing indicates a significant financing event for the company.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report the creation of a material definitive agreement and a direct financial obligation for D.R. Horton, specifically a new Revolving Credit Agreement entered into on December 16, 2005.

The key parties are D.R. Horton, Inc. as the borrower, Wachovia Bank, National Association as the administrative agent, and the various Lenders named in the agreement.

The detailed terms of the Revolving Credit Agreement are contained within the agreement itself, which is filed as Exhibit 10.1 to this 8-K report.

Yes, the creation of a Revolving Credit Agreement signifies a new source of financing or a restructuring of existing credit facilities, which can impact the company's liquidity and debt structure. Investors should review the agreement's terms for specifics on the credit amount, maturity, and covenants.