Business Context and Reporting Period
Company: Green Brick Partners, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: December 1, 2017
Event: Entry into a Material Definitive Agreement (Amendment No. 4 to Credit Agreement).
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or liquidity metrics. It focuses exclusively on debt facility terms.
- Debt Facility: Senior, unsecured revolving credit facility.
- Administrative Agent: Flagstar Bank, FSB.
- Extension Fee: 0.15% of the aggregate amount of any extended commitments, payable on December 15, 2017.
Material Changes
The primary material change is the extension of the termination date for commitments under the Unsecured Revolving Credit Facility.
- Previous Termination Date: December 14, 2019.
- New Termination Date: December 14, 2020.
- Effective Date: Upon payment of the upfront fee on December 15, 2017.
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, or specific risk factors beyond the standard incorporation by reference of the Credit Agreement documents. The extension of the credit facility suggests management's intent to maintain liquidity availability for an additional year.
Investor Verification Checklist
- Verify the total aggregate amount of extended commitments to calculate the exact 0.15% upfront fee.
- Review the full text of Amendment No. 4 (Exhibit 10.5) for any changes to interest rates, covenants, or borrowing limits not detailed in the summary.
- Confirm the company's current utilization of the revolving credit facility to assess the impact of the extension on future liquidity.