M/I Homes, Inc. announced an amendment to its credit agreement, significantly increasing its borrowing availability from $650 million to $900 million. This enhanced credit facility also extends the maturity date to September 2030, providing long-term financial stability.
At the closing date of the amendment, M/I Homes reported zero borrowings outstanding under the credit facility. This move provides additional liquidity and financial flexibility, further strengthening the company's position.
The company's financial condition remains robust, with a cash position of $800 million, a homebuilding debt-to-capital ratio of 18%, and a net debt-to-capital ratio of negative 3% as of June 30, 2025. This extension underscores the company's disciplined financial management.
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