UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): December 15, 2005
M.D.C. Holdings, Inc.
(Exact name of registrant as specified in its charter)
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| Delaware
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1-8951
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84-0622967 |
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(State or other
jurisdiction of
incorporation)
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(Commission file number)
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(I.R.S. employer
identification no.) |
4350 South Monaco Street, Suite 500, Denver, Colorado 80237
(Address of principal executive offices) (Zip code)
Registrant’s telephone number, including area code: (303) 773-1100
Not Applicable
(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Effective December 15, 2005, HomeAmerican Mortgage Corporation (“HomeAmerican”), a wholly-owed
subsidiary of M.D.C. Holdings, Inc., entered into a Fourth Amendment to its Third Amended and
Restated Warehousing Credit Agreement with U.S. Bank National Association and the other banks that
are signatories thereto. The Fourth Amendment provides for a permanent increase of $50 million
(from $175 million to $225 million), a temporary increase in the Leverage Ratio (as defined in the
Warehousing Credit Agreement) to 15-to-1 until March 16, 2006, when the Leverage Ratio will be
12-to-1, an increase in the accordion feature up to $400 million, and modifications to the
sublimits for Wet Funded Loans, as set forth in Exhibit C to the Fourth Amendment. HomeAmerican
has exercised the accordion feature, providing for a facility capacity of $400 million through
March 15, 2006, after which the facility capacity will be at $225 million. A copy of the Fourth
Amendment is filed with this Form 8-K.
ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT
The disclosure contained in Item 1.01 is incorporated herein by reference.
ITEM 9.01 EXHIBITS
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Description |
Exhibit 10.1
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Fourth Amendment to Third Amended and Restated
Warehousing Credit Agreement, dated as of December 15,
2005. |
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