GRBK Green Brick Partners Inc

Green Brick Partners, Inc. (NYSE: GRBK) (the “Company” or “Green Brick”), Fortune Magazine’s top 20 fastest growing company of 2021 and its fastest growing public homebuilder, announced today that the Company has locked interest rate on $100.0 million of senior unsecured notes due in 2029 at a fixed rate of 3.25% per annum in an oversubscribed club deal structured by Prudential Private Capital as a Section 4(a)(2) private placement transaction. The closing for the notes is expected to be the last week of December 2021.

This will be the fourth issuance of senior notes by the Company, following the issuance of $75.0, $37.5, and $125.0 million of senior unsecured notes over the past two-plus years. Green Brick Partners expects to use the proceeds to repay borrowings under its existing revolving credit facilities, pay fees and expenses incurred in connection with the transaction, and for general corporate purposes.

The institutional investors who purchased the notes were represented by Prudential Private Capital, Barings LLC, Hartford Investment Management Company, Securian Asset Management, Inc., and Voya Investment Management Co. LLC. Prudential Private Capital structured the club deal.

The senior unsecured notes have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Act”) or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act and applicable state securities laws.

The Company also completed an extension, expansion, and amendment of its line of credit facility arrangement on December 10, 2021, that adds $130 million in new commitments (representing $35 million on a net basis), bringing our total commitments to $300 million. The maturity of all the commitments under the facility have been extended to December 14, 2024. The amendment also increases the Company’s accordion feature by an additional $50 million to $325 million, enabling Green Brick to further expand its commitments from $300 million without further amendment.

The credit facility is supported by a diverse lender group composed of eight banks including Flagstar Bank, Veritex Community Bank, Huntington National Bank, Texas Capital Bank, Goldman Sachs Bank USA, BancorpSouth Bank, Woodforest National Bank, and MidFirst Bank. Two lenders elected to not extend their commitments one year prior to their expiration, four lenders extended their commitments to 12/14/2024, and four lenders were added for an initial term of three years subject to annual extensions.

“We believe this increased line of credit reflects our proven track record, the strength of our business, and potential for growth that is supported by a strong balance sheet,” said Richard Costello, Chief Financial Officer of Green Brick Partners. “We are grateful for the commitments our lender group has shown us, and are pleased to welcome Texas Capital Bank, BancorpSouth Bank, Woodforest National Bank, and MidFirst Bank. We are also delighted by the $20 million increase in commitment made by Veritex.”

For additional details on the Company’s club deal and extension of its line of credit facility, please refer the Company’s Current Report on Form 8-K that was filed with the Securities and Exchange Commission on December 14, 2021.

About Green Brick Partners, Inc.Green Brick Partners, Inc. is a diversified homebuilding and land development company. Green Brick owns five subsidiary homebuilders in Dallas, Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a controlling interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St. Lucie, Florida (GHO Homes). Green Brick also owns a noncontrolling interest in Challenger Homes in Colorado Springs, Colorado, and retains interests in related financial services platforms, including Green Brick Title, Green Brick Mortgage, and BHome Mortgage. The Company is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing, and sales for its residential neighborhoods and master-planned communities. For more information about Green Brick Partners Inc.’s subsidiary homebuilders, please visit greenbrickpartners.com/homebuilders.

Forward-Looking and Cautionary Statements:This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical or current fact included in this press release are forward-looking statements. Forward-looking statements include statements concerning the impact of our capital structure on future growth. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Green Brick’s control, including, without limitation, risks and uncertainties related to market conditions and other industry factors. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in the sections entitled “Risk Factors” and elsewhere in Green Brick’s Annual Report Annual Report on Form 10-K and its Quarterly Report on Form 10-Q for the period ended September 30, 2021 filed with the Securities and Exchange Commission. The forward-looking statements included in this press release should not be unduly relied upon, represent Green Brick’s views only as of the date of this press release and do not represent Green Brick’s views as of any subsequent date. Green Brick undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changes in Green Brick’s expectations or otherwise, except as required by law.

Investor Relations Contact: Rick CostelloChief Financial Officer rcostello@greenbrickpartners.com