Lennar said it amended and restated the credit agreement for its unsecured revolving credit facility on November 25, 2024, increasing lender commitments to $2.875 billion through May 2027.

1. 01

   Lennar said it amended and restated the credit agreement for its unsecured revolving credit facility on November 25, 2024, increasing lender commitments to $2.875 billion through May 2027.

2. 02

   The company said commitments will decline to $2.650 billion from May 2027, with final maturity in November 2029. The credit facility is a revolving loan structure under which amounts may be borrowed, repaid and redrawn.

3. 03

   The company said the credit facility includes an accordion feature of $625 million, and that the maximum borrowing capacity could be increased to $3.5 billion if additional commitments are obtained.

4. 04

   The company said proceeds under the credit facility may be used for working capital and general corporate purposes. Certain of its wholly owned subsidiaries, primarily homebuilding subsidiaries, entered into a Guarantee Agreement under which they guarantee the company's obligations under the credit agreement.

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