Schedule of Senior Notes and Other Debts Payable |
| | | | | | | | | | | | (Dollars in thousands) | At May 31, 2025 | | At November 30, 2024 | Unsecured revolving credit facility | $ | 400,000 | | | — | | | | | | | | | | | | | | 5.25% senior notes due 2026 | 401,216 | | | 401,824 | | 5.00% senior notes due 2027 | 350,782 | | | 350,974 | | 4.75% senior notes due 2027 | 698,555 | | | 698,266 | | 5.20% senior notes due 2030 | 693,540 | | | — | | 4.75% senior notes due 2025 | — | | | 499,779 | | | | | | | | | | Mortgage notes on land and other debt | 247,894 | | | 307,440 | | | $ | 2,791,987 | | | 2,258,283 | |
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Schedule of Letter of Credit Facilities |
At May 31, 2025, the Financial Services segment had warehouse facilities which were all 364-day repurchase facilities and were used to fund residential mortgages or commercial mortgages for LMF Commercial as follows: | | | | | | | | | | | | | | | | | | | Maximum Aggregate Commitment | | | (In thousands) | Committed Amount | | Uncommitted Amount | | Total | Residential facilities maturing: | | | | | | | | | | | | June 2025 (1) | $ | 560,000 | | | — | | | 560,000 | | August 2025 | 325,000 | | | 325,000 | | | 650,000 | | October 2025 | 50,000 | | | 100,000 | | | 150,000 | | May 2026 | 250,000 | | | 250,000 | | | 500,000 | | December 2026 | 375,000 | | | — | | | 375,000 | | Total residential facilities | $ | 1,560,000 | | | 675,000 | | | 2,235,000 | | LMF commercial facilities maturing: | | | | | | | | | | | | December 2025 | 200,000 | | | — | | | 200,000 | | January 2026 | 100,000 | | | — | | | 100,000 | | Total LMF commercial facilities | $ | 300,000 | | | — | | | 300,000 | | Total | | | | | $ | 2,535,000 | |
(1)Subsequent to May 31, 2025, the maturity date was extended to September 2025. Borrowings and collateral under the facilities were as follows: | | | | | | | | | | | | (In thousands) | May 31, 2025 | | November 30, 2024 | Borrowings under residential facilities | $ | 1,211,428 | | | 1,776,045 | | Collateral under residential facilities | 1,261,797 | | | 1,837,833 | | Borrowings under LMF Commercial facilities | 80,368 | | | 28,747 | |
The maximum available borrowings on the Credit Facility were as follows: | | | | | | | | | (In thousands) | | At May 31, 2025 | Commitments - maturing in May 2027 | | $ | 225,000 | | Commitments - maturing in November 2029 | | 2,800,000 | | Total commitments | | $ | 3,025,000 | | Accordion feature | | 475,000 | | Total maximum borrowings capacity | | $ | 3,500,000 | |
The Company's outstanding letters of credit and surety bonds are disclosed below: | | | | | | | | | | | | | | | (In thousands) | | At May 31, 2025 | | At November 30, 2024 | Performance letters of credit | | $ | 1,843,332 | | | 1,668,061 | | Financial letters of credit | | 909,960 | | | 745,578 | | Surety bonds | | 5,453,277 | | | 5,140,432 | | Anticipated future costs primarily for site improvements related to performance surety bonds | | 3,025,462 | | | 2,766,088 | |
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