NVR amends $300 million revolving credit facility, extends maturity to March 2030
NVR entered into a Second Amended and Restated Credit Agreement on March 11, 2025, providing a five-year, $300 million senior unsecured revolving credit facility with Bank of America as administrative agent. It replaces the existing credit agreement and extends the maturity date from February 11, 2026 to March 11, 2030. The filing describes the terms as substantially similar to the prior agreement, so the change is largely administrative for shareholders.
Key points
- Facility size is $300 million, with an uncommitted accordion feature allowing an increase to $600 million, subject to conditions and lender commitments.
- Maturity extended from February 11, 2026 to March 11, 2030.
- Includes a $100 million sublimit for letters of credit.
- Financial covenants (leverage ratio, interest coverage or minimum liquidity, and minimum tangible net worth) are substantially similar to the existing agreement.
The filing
Written by AI on Nov 8, 2026, 1:11 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 March 12, 2025.
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.