RED BANK, N.J., Sept. 18, 2012 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE:HOV) (the "Company") announced today that its wholly owned subsidiary, K. Hovnanian Enterprises, Inc. ("K. Hovnanian"), plans to issue an aggregate principal amount of up to $550,000,000 of senior secured first lien notes due 2020 (the "First Lien Notes") and $247,000,000 of senior secured second lien notes due 2020 (the "Second Lien Notes" and, together with the First Lien Notes, the "Notes") in a private placement (the "Notes Offering"). The Notes will be guaranteed by the Company and substantially all of its subsidiaries. Concurrently with this offering, K. Hovnanian plans to issue exchangeable note units (the "Units") in an underwritten public offering (the "Units Offering").
K. Hovnanian Enterprises, Inc. Announces New Senior Secured Notes Offering
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