RED BANK, N.J., Sept. 18, 2012 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE:HOV) (the "Company") today announced that its wholly owned subsidiary, K. Hovnanian Enterprises, Inc. ("K. Hovnanian"), intends to commence a tender offer (the "Offer") to purchase for cash any and all of its 10 5/ 8% Senior Secured Notes Due 2016 (the "Notes") upon the terms and subject to the conditions set forth in an Offer to Purchase and Consent Solicitation Statement, dated the date hereof (as it may be amended or supplemented from time to time, the "Statement"), and in the related Letter of Transmittal and Consent (as the same may be amended or supplemented from time to time, the "Letter of Transmittal" and collectively with the Statement, the "Offer Documents"). Concurrently with the Offer, and on the terms and subject to the conditions set forth in the Statement, K. Hovnanian will solicit consents (the "Consent Solicitation") of holders of the Notes that would eliminate most of the restrictive covenants and certain of the events of default contained in the indenture governing the Notes.
K. Hovnanian Enterprises, Inc. Commences Tender Offer For Its 10 5/8% Senior Secured Notes Due 2016 And Related Consent Solicitation
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