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AI brief of an SEC Form 8-K · Century Communities (CCS)

Century Communities enters $900 million revolving credit facility maturing November 2028

Neutral Impact 4 of 5 financing Written later

Century Communities, Inc. entered a new $900 million senior unsecured revolving credit agreement dated November 1, 2024, which replaces its prior $800 million facility. The filing says the facility funds home construction, land acquisition and development, and working capital, with $414 million outstanding under the prior agreement as of September 30, 2024.

Key points

  • Facility size: up to $900 million, including a $250 million letter of credit sublimit, with a request option to increase by up to $400 million
  • Maturity: November 1, 2028, with options for extensions
  • Pricing: floating rate of Term SOFR or Daily Simple SOFR plus 1.45% to 2.30%, or a base rate plus 0.45% to 1.30%, based on leverage ratio
  • Covenants include a leverage ratio of 60% to 65%, interest coverage of at least 1.50 to 1.00, tangible net worth of at least about $1.75 billion plus specified add-ons, and liquidity of at least $40 million

The filing

CompanyCentury Communities (CCS)
Form8-K, current report
Filed with the SECNov 1, 2024, 6:10 PM ET
Accession number0001140361-24-045029

Items reported: 1.01 Material Definitive Agreement1.02 Termination of Material Agreement2.03 New Direct Financial Obligation

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 01, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.