Company: INVH
Filing Date: 2025-04-30
Form Type: 8-K
Source: 0001193125-25-107287
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Company: Invitation Homes Inc.
Filing Date: 2025-04-30
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

On April 28, 2025, Invitation Homes Operating Partnership LP (the “ Borrower”), a wholly-owned subsidiary of Invitation Homes Inc., entered into the Second Amendment to Term Loan Agreement (the “ Credit Agreement Amendment”) with, among others, the lenders party thereto and Capital One, National Association, as administrative agent, which amended that certain Term Loan Agreement, dated as of June 22, 2022 (as amended, supplemented or otherwise modified from time to time, including by the Credit Agreement Amendment, the “ Credit Agreement”). Capitalized terms used but not defined herein have the meanings given to such terms in the Credit Agreement Amendment or the Credit Agreement, as applicable. The Credit Agreement provided $725.0 million of borrowing capacity, consisting of a $150.0 million initial term loan (the “ Initial Term Loan Facility”) and delayed draw term loans totaling $575.0 million (the “ Delayed Draw Term Loan Facility” and, together with the Initial Term Loan Facility, the “ Term Loans”), which remain fully drawn. The Credit Agreement also includes an accordion feature providing the option to increase the size of the Term Loans or enter into additional incremental term loans, such that the aggregate amount of all Term Loans does not exceed $950.0 million at any time, subject to certain limitations.

Pursuant to the Credit Agreement Amendment, effective as of April 28, 2025, the Credit Agreement was amended to, among other things, (i) amend the Maturity Date for the Initial Term Loan Facility and the Delayed Draw Term Loan Facility from June 22, 2029 to April 28, 2028, with two twelve-month extension options, subject to certain conditions and (ii) amend the margin applicable to borrowings under the Credit Agreement as described under “ - Interest Rate and Fees” below.

Interest Rate and Fees

Borrowings under the Credit Agreement bear interest, at the Borrower’s option, at a rate equal to a margin over either (a) Term SOFR for the interest period relevant to such borrowing or (b) a base rate determined by reference to the highest of (1) the administrative agent’s prime lending rate, (2) the federal funds effective rate plus 0.50%, and (3) the sum of (x) Adjusted Term SOFR calculated on such borrowing date based on an interest period of one month determined two (2) business days prior to such borrowing date plus