Monitor next quarterly filing for leverage ratio and EBITDA-to-interest coverage to confirm the company is operating within the loosened covenants. The extended maturity reduces near-term refinancing risk.
Price Chart
Executive Summary
LGI Homes amended its credit agreement on October 9, 2026, extending the maturity of $855 million (73.3% of total commitments) to October 9, 2030, and setting aggregate revolving commitments at approximately $1.166 billion with a $175 million incremental facility. The amendment also modified borrowing base values and financial covenants, including raising the leverage ratio covenant to 60% and adjusting the EBITDA-to-interest-coverage test. This is a routine refinancing that improves liquidity runway without new borrowing.
Key Financial Metrics
Key Facts
- Aggregate revolving commitments set at approximately $1.166 billion
- $175 million incremental facility available
- Maturity extended to October 9, 2030 for $855 million (73.3% of commitments)
- April 28, 2029 maturity for 18.4% of commitments; April 28, 2028 for 8.3%
- Leverage ratio covenant increased to 60% (from 55%)
- Minimum Tangible Net Worth floor raised to $1,582,684,500
- EBITDA-to-interest-coverage test set at 1.50x or alternative liquidity test
- Minimum liquidity covenant removed (set to reserved)
- Credit spread adjustment (CSA) provisions added with elimination by February 9, 2027
Financial Impact
No new debt issued; existing facility upsized by $175 million incremental capacity; total commitments ~$1.166B
Risk Factors
- Homebuilder sector cyclicality could pressure EBITDA and leverage ratios
- Higher interest rate environment may increase borrowing costs despite extended maturity
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001580670-26-000080 |
| Document: lgih-20261009.htm | 0001580670-26-000080 |
| Document: 0001580670-26-000080-index-headers.html | 0001580670-26-000080 |
| Document: 0001580670-26-000080-index.html | 0001580670-26-000080 |
| Document: 0001580670-26-000080.txt | 0001580670-26-000080 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 12d ago | 8-K | $44.08 | awaiting T+20 | — | $42.14 (−4.40%) |
Oct 5, 2026 21d ago | Press Release | $46.09 | awaiting T+20 | — | $42.14 (−8.57%) |
Aug 4, 2026 11w ago | 8-K | $61.46 $53.74 | ▼ −12.56% | ▼ −11.32% | $42.14 (−31.44%) |
Jul 6, 2026 16w ago | Press Release | $58.92 | awaiting T+20 | — | $42.14 (−28.48%) |
Jun 10, 2026 19w ago | 8-K | $55.39 $58.09 | ▲ +4.87% | ▲ +2.98% | $42.14 (−23.92%) |
Jun 9, 2026 19w ago | Press Release | $52.56 $58.09 | ▲ +10.52% | ▲ +6.90% | $42.14 (−19.82%) |
Apr 28, 2026 25w ago | 8-K | $48.96 $46.75 | ▼ −4.51% | ▼ −9.98% | $42.14 (−13.93%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers