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K. Hovnanian Enterprises, Inc. Announces Expiration of Consent Solicitation for Its 2022 Notes

HOVNANIAN ENTERPRISES (HOV)  More Company Research Source: GlobeNewswire
US:NYSE Investor Relations: khov.com/investor-relations
PDF RED BANK, N.J., Jan. 23, 2018 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE:HOV) (the “Company”) announced today that that its wholly owned subsidiary K. Hovnanian Enterprises, Inc.’s (“K. Hovnanian”) previously announced solicitation of consents with respect to its 10.000% Senior Secured Notes due 2022  (the “2022 Notes”) (the “Consent Solicitation”) expired at 5:00 p.m., New York City time, on January 22, 2018 (the “Expiration Date”).  As of the Expiration Date, K. Hovnanian had not received the requisite consents to adopt the proposed amendments (the “Proposed Amendments”) to the indenture governing K. Hovnanian’s 2022 Notes and 10.500% Senior Secured Notes due 2024 (the “2024 Notes,” each of the 2022 Notes and 2024 Notes, a “Series” of Notes, and collectively, the “Notes”) (the “Indenture”) from holders of the 2022 Notes.  As a result the terms of the Indenture with respect to the 2022 Notes will not be modified and remain unchanged. As previously announced on January 16 [Read more]

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