PULTEGROUP INC 8-K 2007
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 21, 2007
PULTE HOMES, INC.
(Exact name of registrant as specified in its Charter)
Registrants telephone number, including area code (248) 647-2750
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
TABLE OF CONTENTS
Item 1.01 Entry Into a Material Definitive Agreement
On November 21, 2007, Pulte Homes, Inc. (the Company) entered into a First Amendment to Third Amended and Restated Credit Agreement (the Amendment). The Amendment was entered into by and among the Company, the lenders, guarantors, administrative agent and others listed therein, with JPMorgan Chase Bank, N.A. serving as Administrative Agent. The Amendment amended the Companys revolving credit facility to decrease the required tangible net worth minimum to $4 billion plus 50% of cumulative Net Income (without deduction for losses) earned for each completed fiscal quarter subsequent to September 30, 2007 to the date of determination. The Amendment also added a borrowing base limitation when the Company does not have an investment grade senior unsecured debt rating from at least two of Fitch Ratings, Moodys Investors Service, and Standard and Poors Corporation. Under the borrowing base limitation, the sum of the Companys senior debt and the amount drawn on the revolving credit facility may not exceed an amount based on certain percentages of various categories of the Companys unencumbered inventory. Total capacity under the revolving credit facility remains unchanged at $1.86 billion.
A copy of the First Amendment is filed as an exhibit to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
Exhibit 10(a) First Amendment to Third Amended and Restated Credit Agreement, dated November 21, 2007
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.