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Hovnanian Enterprises, Inc. Announces Closing of Financing Transactions

HOVNANIAN ENTERPRISES (HOV)  More Company Research Source: GlobeNewswire
Last hovnanian enterprises earnings: 3/8 09:15 am Check Earnings Report
PDF RED BANK, N.J., Feb. 02, 2018 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE:HOV) (“Hovnanian” or the “Company”) announced today that it has closed its previously announced financing transactions with GSO Capital Partners LP (“GSO”), Blackstone’s credit platform (NYSE:BX), and certain funds managed or advised by it. As part of such financing transactions, the Company’s wholly-owned subsidiary, K. Hovnanian Enterprises, Inc. (“K. Hovnanian”), accepted all of the $170,226,000 aggregate principal amount of the 8.000% Senior Notes due 2019 (the “8% 2019 Notes”) tendered in its previously announced exchange offer (the “Exchange Offer”) with respect to the 8% 2019 Notes (representing 72.14% of the aggregate principal amount outstanding prior to the Exchange Offer). In connection therewith, on February 1, 2018, K. Hovnanian issued $90,590,000 aggregate principal amount of its 13.5% Senior Notes due 2026 and $90,120,000 aggregate principal amount of its 5.0% Senior Notes due 2040 pu [Read more]

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