8-KMaterial AgreementsFinancial EventsExhibits & Filings

HORTON D R INC /DE/ 8-K Report, Material Agreement (Apr 5, 2007)

Filed April 5, 2007For Securities:DHI

Summary

D.R. Horton, Inc. (DHI) filed an 8-K on April 5, 2007, primarily to disclose amendments to its credit facility. The filing indicates a First Amendment to its Second Amended and Restated Credit Agreement and Pledge and Security Agreement, effective March 30, 2007. This amendment involves DHI Mortgage Company, Ltd. and major lenders including U.S. Bank National Association and JPMorgan Chase Bank. The key takeaway for investors is the modification of the company's debt structure. While the specific terms of the amendment are not detailed within this 8-K's provided text, such changes typically relate to borrowing capacity, interest rates, covenants, or maturity dates. Investors should review the actual First Amendment document (Exhibit 10.1) for precise details on how these changes might impact DHI's financial flexibility, cost of capital, and overall leverage.

Key Highlights

  • 1D.R. Horton, Inc. (DHI) filed an 8-K on April 5, 2007.
  • 2The filing pertains to Item 2.03 (Creation of a Direct Financial Obligation) and Item 9.01 (Financial Statements and Exhibits).
  • 3A First Amendment to the Second Amended and Restated Credit Agreement and Pledge and Security Agreement was executed on March 30, 2007.
  • 4The amendment involves DHI Mortgage Company, Ltd., U.S. Bank National Association, and JPMorgan Chase Bank.
  • 5The amendment modifies the terms of DHI's existing credit facility.
  • 6Exhibit 10.1 contains the full text of the First Amendment.

Frequently Asked Questions

The main purpose of this 8-K filing is to report an amendment to D.R. Horton's existing credit agreement and pledge and security agreement, specifically affecting its subsidiary DHI Mortgage Company, Ltd.

This 8-K filing does not provide the specific details of the changes made in the First Amendment. Investors would need to review Exhibit 10.1, the First Amendment itself, to understand the exact modifications to the credit facility.

The parties involved in the amendment are DHI Mortgage Company, Ltd. (a subsidiary of D.R. Horton), U.S. Bank National Association, JPMorgan Chase Bank, and other lenders associated with the credit facility.

Amendments to credit facilities can impact a company's financial standing by altering borrowing limits, interest costs, or financial covenants. Reviewing the full amendment (Exhibit 10.1) is necessary to assess the precise financial implications for D.R. Horton.