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Subsequent Events
9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Amendment of Master Repurchase Agreement
On October 27, 2020, Zillow Home Loans amended its Citibank, N.A. repurchase agreement previously maturing on October 27, 2020 such that it now matures on October 26, 2021 and provides for an increased maximum borrowing capacity of $100.0 million. The Citibank, N.A. repurchase agreement will continue to be classified within current liabilities in our consolidated balance sheets.
Redemption of 2021 Notes
On November 4, 2020, we submitted notice to the trustee to exercise our right to redeem the remaining $265.3 million in aggregate principal amount of the 2021 Notes on December 18, 2020 (the “Redemption Date”). Holders of the 2021 Notes have the option to convert their 2021 Notes in whole or in part into shares of Class C capital stock prior to the Redemption Date at a conversion rate of 19.0985 shares of Class C capital stock per $1,000 principal amount of the 2021 Notes, equal to a conversion price of $52.3601 per share. If all holders of the 2021 Notes elect to convert their 2021 Notes into shares of Class C capital stock, the Company will issue approximately 5.1 million shares of Class C capital stock in full satisfaction of the 2021 Notes. For any holder of the 2021 Notes that does not elect to convert their 2021 Notes into shares of Class C capital stock, we will be required to redeem the 2021 Notes in cash at a redemption price equal to 100% of the principal amount of 2021 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date. We have not yet determined the impact this redemption will have on our financial statements.