• Hovnanian Enterprises, Inc. plans to offer $450 million in Senior Notes due 2031 and $450 million in Senior Notes due 2033. The proceeds will be used to redeem existing notes, repay loans, and cover related fees and expenses.
• The Notes are not registered under the Securities Act and may only be offered to qualified institutional buyers or in offshore transactions. The offering does not constitute a notice of redemption of the Existing Secured Notes.
• Hovnanian Enterprises, Inc. is one of the nation’s largest homebuilders with operations in multiple states. The Company’s homes are marketed under the name K. Hovnanian® Homes.
• Forward-looking statements in the press release caution about potential risks and uncertainties that could impact the Company’s future performance and results. Various factors such as economic conditions, interest rates, and competition may affect outcomes.

Read more at Globe Newswire: K. Hovnanian Enterprises, Inc. Announces New Senior Notes