Form 8-K · Current report
Lennar 8-K, filed Oct 29, 2026
- Filed
- CIK
- 0000920760
- Accession no.
- 0001193125-26-437818
Summary
Lennar amended and restated its unsecured revolving credit facility and its unsecured delayed draw term loan facility on October 26, 2026, with JPMorgan Chase Bank as administrative agent. The revolver's lenders' commitments rose to $3.795 billion, extending Class A maturity from November 2029 to November 2031 and lifting aggregate potential borrowing capacity to $4.545 billion, while a $40 million accordion draw increased term loans outstanding to $1.75 billion.
Key points
- The amended revolver increases aggregate potential borrowing capacity from $3.500 billion to $4.545 billion, including a $750 million accordion feature, Class B commitments of $225 million maturing May 2027 and a new $25 million Class C commitment maturing November 2029.
- The 0.10% credit spread adjustment tied to SOFR was removed from both facilities, and the revolver gained a 0.10% applicable margin reduction and 0.025% commitment fee reduction contingent on certain rating conditions.
- Term loans mature in May 2028 with a one-time company option to extend to May 2029, and the accordion's available amount falls from $400 million to $360 million.
- Certain wholly owned homebuilding subsidiaries entered amended and restated guarantee agreements covering Lennar's obligations under both facilities.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 1.01Entry into a Material Definitive Agreement
- 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
- 9.01Financial Statements and Exhibits
From the filing
Item 1.01. Entry into a Material Definitive Agreement. Revolving Credit Facility On October 26, 2026, Lennar Corporation (the “Company”) amended and restated its ninth amended and restated credit agreement, dated as of November 25, 2024, governing the Company’s unsecured revolving credit facility (the “Revolving Credit Facility”) by entering into a tenth amended and restated credit agreement (the “Revolving Credit Agreement”) to, among other things, increase the lenders’ aggregate commitments to $3.795 billion, extend the maturity of the Class A lenders’ commitments, totaling $3.545 billion, from November 2029 to November 2031 and remove the 0.10% credit spread adjustment previously…
An excerpt of the text as filed with the SEC, cut for length.
Readster writes AI-generated summaries of public filings for research purposes only. Summaries can be incomplete or wrong — check the original filing on SEC.gov before relying on it. Nothing here is investment, legal or medical advice.