Lennar said on October 26, 2026 that it entered into a tenth amended and restated credit agreement, raising aggregate commitments under its unsecured revolving credit facility to $3.795 billion. Potential borrowing capacity rose from $3.500 billion to $4.545 billion, including an accordion feature of $750 million subject to additional commitments. The Korean item's 10 is the amendment number and is placed as "tenth" in the filing wording.

1. 01

   Lennar said on October 26, 2026 that it entered into a tenth amended and restated credit agreement, raising aggregate commitments under its unsecured revolving credit facility to $3.795 billion. Potential borrowing capacity rose from $3.500 billion to $4.545 billion, including an accordion feature of $750 million subject to additional commitments. The Korean item's 10 is the amendment number and is placed as "tenth" in the filing wording.

2. 02

   The company said it extended the maturity of Class A lender commitments under its revolving credit facility, totaling $3.545 billion, from November 2029 to November 2031. Class B commitments of $225 million mature in May 2027, and the new Class C commitment of $25 million matures in November 2029.

3. 03

   The company said it removed the 0.10% credit spread adjustment that had applied to loans under the revolving credit facility that accrue interest by reference to SOFR. Class A SOFR loans may be eligible for a 0.10% applicable margin reduction and a 0.025% commitment fee reduction if certain rating conditions with respect to the company are satisfied.

4. 04

   The company said that on October 26, 2026, lenders provided an additional $40 million of delayed draw term loans through the accordion feature of its unsecured delayed draw term loan facility (the Term Loan Facility), raising total outstanding delayed draw term loans from $1.71 billion to $1.75 billion. The amount available to be drawn under the accordion feature fell from $400 million to $360 million.

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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