Forestar Group Enters into Amendment No. 4 to Credit Agreement with JPMorgan Chase Bank

Forestar Group Inc. filed a Form 8-K with the Securities and Exchange Commission on December 18, 2024, announcing the execution of Amendment No. 4 to their Credit Agreement with JPMorgan Chase Bank, N.A. This amendment, effective as of the same date, extends the Termination Date of the Series A Revolving Credit Facility to December 18, 2029.

Under the terms of Amendment No. 4, the pricing for the Series A Revolving Credit Facility was modified, and the Aggregate Commitment was increased to $640 million. Additionally, the Credit Agreement’s accordion feature was expanded to allow for the Aggregate Commitment to potentially increase up to $1 billion, subject to specific conditions and the availability of bank commitments.

It’s noted in the filing that some Lenders under the Credit Agreement and their affiliates have had various relationships with Forestar Group in the past, offering investment banking, commercial banking, and financial advisory services. These services have entailed fees and commissions for which the Lenders have been compensated.

The specifics and terms of Amendment No. 4 are detailed in the filing, and readers are directed to the full document for a comprehensive understanding. By signing the report on behalf of Forestar Group, James D. Allen, the Executive Vice President, Chief Financial Officer, and Treasurer, confirmed the accuracy of the information.

Following this amendment, Forestar Group continues to operate and develop its strategic financial arrangements. The Company’s common stock (NYSE: FOR) is listed on the New York Stock Exchange, underpinning its position in the market as it moves forward with its financial obligations and growth strategies.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Forestar Group’s 8K filing here.

Forestar Group Company Profile

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.