Company: HOUS
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001398987-25-000020
Chunk: 227

Company: Anywhere Real Estate Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 227
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 ended December 31, 2023, $227 million of cash was used in financing activities as follows:

•$65 million repayment of borrowings under the Revolving Credit Facility;

•$63 million of net cash paid related to the debt exchange transactions and open market purchases in the third quarter of 2023;

•$48 million net decrease in securitization borrowings;

•$31 million of other financing payments primarily related to finance leases and contracts; and

•$16 million of quarterly amortization payments on the term loan facilities.

62

Financial Obligations

See Note 9, "Short and Long-Term Debt", to the Consolidated Financial Statements, for additional information on the Company's indebtedness as of December 31, 2024.

Covenants under the Senior Secured Credit Facility and Indentures; Events of Default

The Senior Secured Credit Agreement and the indentures governing the Unsecured Notes and 7.00% Senior Secured Second Lien Notes contain various covenants that limit (subject to certain exceptions) Anywhere Group’s ability to, among other things:

•incur or guarantee additional debt or issue disqualified stock or preferred stock;

•pay dividends or make distributions to Anywhere Group’s stockholders, including Anywhere;

•repurchase or redeem capital stock;

•make loans, investments or acquisitions;

•incur restrictions on the ability of certain of Anywhere Group's subsidiaries to pay dividends or to make other payments to Anywhere Group;

•enter into transactions with affiliates;

•create liens;

•merge or consolidate with other companies or transfer all or substantially all of Anywhere Group's and its material subsidiaries' assets;

•transfer or sell assets, including capital stock of subsidiaries; and

•prepay, redeem or repurchase subordinated indebtedness.

As a result of the covenants to which we remain subject, we are limited in the manner in which we conduct our business and we may be unable to engage in favorable business activities or finance future operations or capital needs. In addition, the Senior Secured Credit Agreement requires us to maintain a senior secured leverage ratio.

Senior Secured Leverage Ratio applicable to our Senior Secured Credit Facility

The senior secured leverage ratio is tested quarterly and may not exceed 4.75 to 1.00. The senior secured leverage ratio is measured by dividing Anywhere Group's total senior secured net debt by the trailing twelve-month EBITDA calculated on a Pro Forma Basis, as those terms are defined in the Senior