Taylor Morrison Increases Capacity Available on its Revolving Credit Facility

Rhea-AI Summary

Taylor Morrison Home Corporation (NYSE: TMHC) has announced an increase in its revolving credit facility from $800 million to $1.0 billion, enhancing its liquidity and financial flexibility. The company reported that there are currently no borrowings outstanding under this facility, which allows for a disciplined capital allocation approach. This adjustment reaffirms Taylor Morrison's strong capital position in the homebuilding market, supporting its operations across various consumer segments.

Positive

• Increased revolving credit facility to $1.0 billion from $800 million, enhancing liquidity.
• No outstanding borrowings currently, providing significant financial flexibility.

Negative

• None.

Borrowing Capacity Increased to $1.0 Billion from $800 Million; No Amount Currently Outstanding

SCOTTSDALE, Ariz., Sept. 13, 2022 /PRNewswire/ -- Taylor Morrison Home Corporation (NYSE: TMHC), a leading national land developer and homebuilder, today announced that it entered into an amended credit agreement to increase the aggregate commitment available under its revolving credit facility from $800 million to $1.0 billion. The incremental borrowing capacity provides additional liquidity and financial flexibility, and no borrowings were outstanding as of the closing date.

"The increase in our revolving credit facility to $1.0 billion further enhances our strong capital position, with which we are well equipped to maintain a disciplined and opportunistic capital allocation approach," said Lou Steffens, Executive Vice President and Chief Financial Officer.

About Taylor Morrison

Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation's leading developers and homebuilders. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury, and 55-plus active lifestyle homebuyers under our family of brands—including Taylor Morrison, Esplanade, Darling Homes Collection by Taylor Morrison, and Christopher Todd Communities built by Taylor Morrison. From 2016-2022, Taylor Morrison has been recognized as America's Most Trusted® Builder by Lifestory Research. Our strong commitment to sustainability, our communities, and our team is highlighted in our latest Environmental, Social, and Governance (ESG) Report on our website.

For more information about Taylor Morrison, please visit www.taylormorrison.com.

Forward-Looking Statements

This press release includes "forward-looking statements." These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those expressed in, or implied by, these statements. You can identify these statements by the fact that they do not relate to matters of a strictly factual or historical nature and generally discuss or relate to forecasts, estimates or other expectations regarding future events. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "may," "can," "could," "might," "will" and similar expressions identify forward-looking statements, including statements related to expected financial, operating and performance results, planned transactions, planned objectives of management, future developments or conditions in the industries in which we participate and other trends, developments and uncertainties that may affect our business in the future. Forward-looking statements speak only as of the date they are made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. All of our forward-looking statements are expressly qualified in their entirety by the cautionary statements contained or referenced in our most recent Annual Report on Form 10-K, including those described under the heading "Risk Factors" in Part I, Item 1A.

CONTACT: Investor Relations
Taylor Morrison Home Corporation
(480) 734-2060
investor@taylormorrison.com

 

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SOURCE Taylor Morrison

FAQ

What recent financial changes did Taylor Morrison (TMHC) announce?

Taylor Morrison announced an increase in its revolving credit facility from $800 million to $1.0 billion.

How much borrowing capacity does Taylor Morrison (TMHC) have now?

Taylor Morrison now has a borrowing capacity of $1.0 billion.

What is the current borrowing status of Taylor Morrison (TMHC)?

As of the announcement, Taylor Morrison has no outstanding borrowings under its revolving credit facility.

How does the credit facility increase benefit Taylor Morrison (TMHC)?

The increase in the credit facility provides Taylor Morrison with enhanced liquidity and financial flexibility.