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Stock impact report

K. Hovnanian Enterprises, Inc. Announces Expiration of Early Tender Deadline of Exchange Offer and Consent Solicitation

Hovnanian Enterprises, Inc. Class A (HOV) 
US:NYSE Investor Relations: khov.com/investor-relations
Company Research Source: GlobeNewswire
MATAWAN, N.J., May 14, 2018 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE:HOV) (the “Company”) announced today that, in connection with its wholly-owned subsidiary K. Hovnanian Enterprises, Inc.’s (the “Issuer”) previously announced private offer to exchange (the “Exchange Offer”) any and all of the Issuer’s $440.0 million outstanding 10.000% Senior Secured Notes due 2022 (the “Existing 2022 Notes”) and $400.0 million outstanding 10.500% Senior Secured Notes due 2024 (together with the Existing 2022 Notes, the “Existing Notes”) for the Issuer’s newly issued 3.0% Senior Notes due 2047 (the “New Notes”) and concurrent solicitation of consents with respect to the Existing 2022 Notes (the “Existing 2022 Notes Consent Solicitation”), the early tender deadline expired at 5:00 p.m., New York City time, on May 11, 2018 (the “Early Tender Deadline”). As of the Early Tender Deadline, the minimum exchange condition to the Exchange Offer (which required that at least $50.0 million in a Show less Read more
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