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Hovnanian Enterprises Inc Announces Public Offering Of $41,581,000 Aggregate Principal Amount of Senior Notes

Wednesday, 11 Sep 2013 08:00am EDT 

Hovnanian Enterprises Inc announced that its wholly owned subsidiary, K. Hovnanian Enterprises, Inc. plans to issue an aggregate principal amount of $41,581,000 of its 6.25% Senior Notes due 2016. The notes will be issued as additional 6.25% Senior Notes due 2016 under the indenture dated as of August 8, 2005. Credit Suisse Securities (USA) LLC is serving as the sole book-running manager for the offering. The Company intends to use the net proceeds from this offering to fund the redemption of all of K. Hovnanian's outstanding 6.5% Senior Notes due 2014 and 6.375% Senior Notes due 2014 and to pay related fees and expenses. 

Company Quote

-0.15 -3.63%
3:16pm EDT