Green Brick Partners, Inc. Enters into the Ninth Amendment to the Credit Agreement, with the Lenders Named Therein and Flagstar Bank, FSB, as Administrative Agent
December 14, 2021 at 08:32 am EST
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Green Brick Partners, Inc. entered into the Ninth Amendment to the Credit Agreement, with the lenders named therein and Flagstar Bank, FSB, as administrative agent. The lenders under the Credit Agreement, as amended, are Flagstar Bank, Veritex Community Bank, Huntington National Bank, Texas Capital Bank, Goldman Sachs Bank USA, BancorpSouth Bank, Woodforest National Bank, and MidFirst Bank. Pursuant to the Ninth Amendment, the Credit Agreement was amended to add $130 million in new commitments (representing $35 million on a net basis), bringing total commitments to $300 million. The maturity of all the commitments under the facility have been extended to December 14, 2024. The amendment also increases the Companys accordion feature by an additional $50 million to $325 million, enabling Green Brick to further expand its commitments from $300 million without further amendment. All other material terms of the Credit Agreement, as amended, remained unchanged. The description above is qualified in its entirety by the Ninth Amendment, a copy of which is filed as Exhibit 10.43 to this Current Report on Form 8-K.
Green Brick Partners, Inc. is a diversified homebuilding and land development company. The Company is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, title and mortgage services, marketing and sales and the creation of brand images at its residential neighborhoods and master planned communities. The Company operates through three segments: Builder operations Central, Builder operations Southeast, and Land development. The Builder operations Central segment represents operations by its builders in Texas. The Builder operations Southeast segment represents operations by its builders in Georgia and Florida. The Land Development segment acquires land for the development of residential lots that are transferred to its controlled builders or sold to third party homebuilders. The Company owns or controls approximately 28,700 home sites in high-growth submarkets.
Green Brick Partners, Inc. Enters into the Ninth Amendment to the Credit Agreement, with the Lenders Named Therein and Flagstar Bank, FSB, as Administrative Agent