8-KMaterial AgreementsFinancial EventsExhibits & Filings

HORTON D R INC /DE/ 8-K Report, Material Agreement (Jul 6, 2011)

Filed July 6, 2011For Securities:DHI

Summary

This 8-K filing by D.R. Horton, Inc. (DHI) on July 6, 2011, primarily concerns a material amendment to a financial agreement. Specifically, it references a Sixth Amendment to a Master Repurchase Agreement, dated June 29, 2011, involving DHI Mortgage Company, Ltd. and U.S. Bank National Association. This amendment establishes or modifies a direct financial obligation for the registrant, as detailed under Item 2.03. While the specific terms and financial impact of the amendment are not fully elaborated in the provided text, its reference indicates a significant update to the company's financing arrangements.

Key Highlights

  • 1D.R. Horton, Inc. filed an 8-K on July 6, 2011.
  • 2The filing includes information regarding a direct financial obligation or off-balance sheet arrangement under Item 2.03.
  • 3A Sixth Amendment to a Master Repurchase Agreement was executed on June 29, 2011.
  • 4The amendment involves DHI Mortgage Company, Ltd. and U.S. Bank National Association.
  • 5U.S. Bank National Association acts as Buyer, Administrative Agent, and Syndication Agent in the agreement.
  • 6The filing incorporates by reference information from Item 1.01 (Entry into a Material Definitive Agreement).

Frequently Asked Questions

The main purpose of this 8-K filing is to report a material amendment to a Master Repurchase Agreement between DHI Mortgage Company, Ltd. and U.S. Bank National Association, which creates or modifies a direct financial obligation for D.R. Horton, Inc.

A Master Repurchase Agreement (MRA) is a contract that outlines the terms of repurchase transactions, which are essentially short-term borrowing agreements collateralized by securities. An amendment to such an agreement can signify changes in borrowing capacity, interest rates, collateral requirements, or other critical terms affecting the company's liquidity and financing costs.

The provided excerpt of the 8-K does not contain specific financial details or the exact impact of the Sixth Amendment. It primarily serves to disclose the occurrence of this material agreement change.

The parties involved are DHI Mortgage Company, Ltd. (a subsidiary of D.R. Horton, Inc.) and U.S. Bank National Association, which serves as the Buyer, Administrative Agent, and Syndication Agent.