LGI Homes, Inc. Enters into Lender Addition and Acknowledgement Agreement
January 04, 2017 at 10:02 pm
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On December 28, 2016, LGI Homes, Inc. entered into a Lender Addition and Acknowledgement Agreement dated as of December 28, 2016 with Texas Capital Bank, National Association and Wells Fargo Bank, National Association, as administrative agent whereby the aggregate Revolving Commitments under the company's revolving credit facility increased from $360.0 million to $385.0 million in accordance with the accordion feature of that certain Amended and Restated Credit Agreement dated as of May 27, 2016 by and among the company, the Lenders identified therein, the Administrative Agent, Wells Fargo Securities, LLC, as sole lead arranger and sole bookrunner, and Deutsche Bank Securities Inc. and Fifth Third Bank as documentation agents.
LGI Homes, Inc. is focused on the homebuilding industry. The Company designs, constructs and sells homes across approximately 36 markets in 21 states. The Company offers multiple product lines, including attached and detached entry-level homes and active adult offerings that are marketed and sold under its LGI Homes brand and luxury homes that are marketed and sold under its Terrata Homes brand. Its homebuilding operations are organized and managed by seven operating segments: West, Northwest, Central, Midwest, Florida, Southeast and Mid-Atlantic. The Company offers an attached townhome product in certain markets. The Company's CompleteHome and CompleteHome Plus packages offers buyers move-in ready homes. Each of these packages includes preselected, upgraded features, including stainless steel appliances, cabinets and others. Its wholesale business builds and sells homes primarily to institutions interested in acquiring single-family rental properties through bulk sales agreements.
LGI HOMES, INC. 
