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K. Hovnanian Enterprises, Inc. Announces the Modification of the Consent Solicitation Condition in Its Exchange Offer

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., Jan. 23, 2018 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE:HOV) (the “Company”) announced today that its wholly-owned subsidiary, K. Hovnanian Enterprises, Inc. (the “Issuer”), has modified the Consent Solicitation Condition (as defined below) to its previously announced private offer to exchange (the “Exchange Offer”) up to $185,000,000 aggregate principal amount of the Issuer’s outstanding 8.000% Senior Notes due 2019 (the “Existing Notes”) for (1) cash, (2) its newly issued 13.5% Senior Notes due 2026 (the “New 2026 Notes”) and (3) its newly issued 5.0% Senior Notes due 2040 (together with the New 2026 Notes, the “New Notes”) on the terms and subject to the conditions set forth in a Confidential Offering Memorandum, dated December 28, 2017 (as it may be amended or supplemented from time to time, the “Offering Memorandum”), and in the related Letter of Transmittal (collectively with the Offering Memorandum, the “Exchange Offer Documents”). As previously a [Read more]

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