Green Brick Partners, Inc. (NASDAQ:GRBK) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On September 1, 2017, Green Brick Partners, Inc., a Delaware corporation (the “Company”), as borrower, entered into the Third Amendment to Credit Agreement (the “Third Amendment”), with the lenders named therein, Flagstar Bank, FSB (“Flagstar”), as successor administrative agent, and Citibank, N.A., as existing administrative agent, which further amends the Credit Agreement, dated December 15, 2015 (as amended by the First Amendment to Credit Agreement, dated August 31, 2016 and Amendment No. 2 to the Credit Agreement, dated December 1, 2016, the “Credit Agreement”), between the Company, the lenders named therein, and Citibank, N.A., as administrative agent, providing for a senior, unsecured revolving credit facility (the “Unsecured Revolving Credit Facility”). to the Third Amendment, Flagstar increased its commitment under the Unsecured Revolving Credit Facility from $35.0 million to $70.0 million and Credit Suisse AG, Cayman Islands Branch, increased its commitment under the Unsecured Revolving Credit Facility from $15.0 million to $25.0 million, which increased the aggregate lending commitments available under the Unsecured Revolving Credit Facility from $85.0 million to $130.0 million. The Third Amendment also increased the maximum amount of the Unsecured Revolving Credit Facility from $110.0 million to a maximum aggregate amount of $200.0 million, which further increases are available at the Company’s option, prior to the termination date, subject to certain terms and conditions. In addition, the Third Amendment appoints Flagstar in the role as the sole lead arranger under the Credit Agreement.
The preceding description of the Credit Agreement and the Third Amendment is qualified in its entirety by reference to the full text of such documents, copies of which are attached hereto as Exhibit 10.1, 10.2, 10.3, and 10.4, respectively, and incorporated herein by reference.
| Item 1.01 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement. |
The information set forth above in Item 1.01 of this Current Report on Form 8-K and in the Company’s Current Reports on Form 8-K filed on December 18, 2015, September 1, 2016, and December 1, 2016 are incorporated herein by reference.
| Item 1.01 | Regulation FD Disclosure. |
On September 6, 2017, the Company issued a press release announcing the Third Amendment. A copy of the press release is attached hereto as Exhibit 99.1. The information contained in Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.
| Item 1.01 | Financial Statements and Exhibits |
(d) Exhibits
| Exhibit No. | Description of Exhibit |
| 10.1 | Credit Agreement, dated as of December 15, 2015, among Green Brick Partners, Inc., the lenders named therein, and Citibank, N.A., as administrative agent (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on December 18, 2015 (File No. 001-33530)). |
| 10.2 | First Amendment to Credit Agreement, dated as of August 31, 2016, by and among Green Brick Partners, Inc., Flagstar Bank, FSB, the lenders named therein, and Citibank, N.A., as administrative agent (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on September 1, 2016 (File No. 001-33530)). |
| 10.3 | Amendment No. 2 to the Credit Agreement, dated as of December 1, 2016, by and among Green Brick Partners, Inc., the lenders named therein, and Citibank, N.A., as agent (incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed on December 1, 2016 (File No. 001-33530)). |
| 10.4 | Third Amendment to Credit Agreement, dated as of September 1, 2017, by and among Green Brick Partners, Inc., the lenders named therein, Flagstar Bank, FSB, as successor administrative agent, and Citibank, N.A., as existing administrative agent. |
| 99.1 | Press Release, dated September 6, 2017. |
Green Brick Partners, Inc. ExhibitEX-10.4 2 ex10-4.htm THIRD AMENDMENT TO CREDIT AGREEMENT Green Brick Partners,…To view the full exhibit click here
About Green Brick Partners, Inc. (NASDAQ:GRBK)
Green Brick Partners, Inc., formerly BioFuel Energy Corp., is a real estate operator. The Company is involved in the purchase and development of land for residential use, construction lending and home building operations. The Company operates through two segments: land development and homebuilding services. Within homebuilding services segment, its two operating segments consist of Texas and Georgia. The Company’s land development segment conducts its business under the brand Green Brick Communities. The Company’s homebuilding services segment conducts its operations primarily through JBGL Builder Finance LLC (Builder Finance). The Company acquires and develops land, provides land and construction financing to its controlled builders and participates in the profits of its controlled builders. Its markets include the United States metropolitan areas of Dallas, Texas and Atlanta, Georgia. Green Brick Partners, Inc. (NASDAQ:GRBK) Recent Trading Information
Green Brick Partners, Inc. (NASDAQ:GRBK) closed its last trading session 00.00 at 9.20 with 52,800 shares trading hands.
