LGI Homes, Inc. has entered into an amendment to its credit agreement with several financial institutions and Wells Fargo Bank on October 9, 2024. This amendment, referred to as the Fifth Amendment to Fifth Amended and Restated Credit Agreement, alters the negative covenant related to housing inventory and extends the maturity of the commitments of certain lenders to April 28, 2028. With this amendment, $1.085 billion or 90% of the commitments mature on the stated date, while the remaining 10% will mature on April 28, 2025.
For clarity: - LGI Homes, Inc. - Wells Fargo Bank, National Association - Eric Lipar (Chief Executive Officer and Chairman of the Board)