M.D.C. Holdings, Inc. (NYSE:MDC) Files An 8-K Entry into a Material Definitive AgreementITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Effective November 1, 2018, M.D.C. Holdings, Inc. (the “Company”) entered into a Fourth Amendment to Credit Agreement (“Fourth Amendment”) to its unsecured credit agreement (“Credit Agreement”) with U.S. Bank National Association, as designated agent and co-administrative agent, Citibank, N.A., as co-administrative agent, and SunTrust Bank, Bank of the West and PNC Bank, National Association, as co-syndication agents, and the other banks that are signatories thereto.
The Fourth Amendment extends the Facility Termination Date to December 18, 2023, increases the Aggregate Commitment to $1.0billion, provides that (subject to additional lender commitments) the aggregate amount of the commitments may increase to an amount not to exceed $1.5 billion (the “accordion” feature), and updates other provisions of the Credit Agreement.
Capitalized terms are defined in the Credit Agreement. A copy of the Fourth Amendment is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference.
ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT
The disclosure contained in Item 1.01 is incorporated by reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(d)Exhibits.
MDC HOLDINGS INC ExhibitEX-10.1 2 ex_127308.htm EXHIBIT 10.1 ex_127308.htm Exhibit 10.1 FOURTH AMENDMENT TO CREDIT AGREEMENT This FOURTH AMENDMENT TO CREDIT AGREEMENT (“Amendment”),…To view the full exhibit click here
About M.D.C. Holdings, Inc. (NYSE:MDC)
M.D.C. Holdings, Inc. is engaged in two primary operations, such as homebuilding and financial services. The Company’s homebuilding operations consist of subsidiary companies that purchases finished lots or develop lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes. Its homebuilding operations consists of homebuilding divisions that the Company considers to be its operating segments. Its financial services operations consists of HomeAmerican Mortgage Corporation (HomeAmerican), Allegiant Insurance Company, Inc., StarAmerican Insurance Ltd., and American Home Insurance Agency, Inc. The Company’s operating segments include West (includes operating segments located in Arizona, California, Nevada and Washington); Mountain (includes operating segments located in Colorado and Utah), and East (includes operating segments located in Virginia, Florida and Maryland).
