HORTON D R INC /DE/ 8-K

What Happened D.R. Horton filed an 8-K on March 31, 2026 reporting Amendment No. 13 to its long‑running credit agreement (effective March 27, 2026) and Amendment No. 2 to DRH Rental, Inc.’s credit agreement (effective March 27, 2026). The amendments increase D.R. Horton’s revolving credit commitments, raise the overall credit facility cap, modify interest‑rate margins, and refresh extension options. Mizuho Bank, Ltd. serves as successor Administrative Agent on both facilities.

Key Details

• D.R. Horton Credit Agreement (Amendment No. 13): Aggregate Revolving Credit Commitment increased to $3.295 billion across Series C/D/E tranches; Aggregate Credit Facility Limit increased to $4.0 billion. Series maturities: Series C (10/28/2027), Series D (3/27/2029), Series E (3/27/2031).
• DRH Rental Credit Agreement (Amendment No. 2): DRH Rental’s $1.050 billion senior unsecured revolver termination date extended to March 27, 2030; undrawn fees reduced and interest‑rate margins modified.
• Both amendments refresh extension options for the borrower(s) and change applicable interest terms; copies of Amendment No. 13 and Amendment No. 2 are filed as Exhibits 10.1 and 10.2.
• The filing notes certain lenders (and affiliates) have ongoing banking and advisory relationships with D.R. Horton and may receive fees for such services.

Why It Matters These amendments increase D.R. Horton’s available liquidity and extend the tenor of key revolving facilities, providing more capacity and timing flexibility for working capital, development, refinancing and other corporate needs. Changes to interest margins and undrawn fees can affect borrowing costs and future interest expense. Investors should view this as a material financing event that creates/adjusts direct debt commitments (see Item 2.03) and may influence the company’s liquidity profile and capital‑structure flexibility.