UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On September 9, 2022 (the “Closing Date”), Taylor Morrison Communities, Inc., a Delaware corporation (the “Borrower”), an indirect subsidiary of Taylor Morrison Home Corporation, a Delaware corporation (“Taylor Morrison” or the “Company”), entered into the Additional Facilities Assumption Agreement (“Additional Facilities Agreement”), relating to the Amended and Restated Credit Agreement (the “Credit Agreement”), by and among the Borrower, Taylor Morrison Home III Corporation, a Delaware corporation (“Holdings”), Taylor Morrison Holdings, Inc., a Delaware corporation (“TMH”), Taylor Morrison Finance, Inc., a Delaware corporation (“U.S. FinCo”), each lender from time to time party thereto (the “Lenders”) and Citibank, N.A. (“Citibank”), as administrative agent for the Lenders. The Additional Facilities Agreement amends the Credit Agreement, increasing the aggregate commitments under the Credit Agreement from $800 million to $1.0 billion. The commitments established pursuant to the Additional Facilities Agreement have the same terms and conditions as the existing commitments under the Credit Agreement. In addition, the Borrower must pay customary fees in connection with the establishment of the additional commitments pursuant to the Additional Facilities Agreement. The Additional Facilities Agreement was entered into solely to increase borrowing capacity and on the Closing Date, no amounts are outstanding under the Credit Agreement.
The foregoing description of the Additional Facilities Agreement is qualified in its entirety by reference to the full text of the Additional Facilities Agreement, which is attached hereto as Exhibit 10.1 and is incorporated into this Item 1.01 by reference.
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth above, under Item 1.01, is incorporated herein by reference.
| Item 9.01 (d) | Financial Statements and Exhibits. |
Exhibits
| Exhibit Number |
Description | |
| 10.1 | Additional Facilities Assumption Agreement, dated as of September 9, 2022, by and among the Borrower, Taylor Morrison Home III Corporation, Taylor Morrison Holdings, Inc., Taylor Morrison Finance, Inc., the subsidiaries of the Borrower party thereto as guarantors, the lenders party thereto, the issuing banks party thereto and Citibank, N.A., as issuing bank and administrative agent. | |
| 104 | Cover Page Interactive Data File (embedded with the Inline XBRL document). | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: September 13, 2022
| Taylor Morrison Home Corporation | ||
| By: | /s/ Darrell C. Sherman | |
| Name: | Darrell C. Sherman | |
| Title: | Executive Vice President, Chief Legal Officer and Secretary | |