RED BANK, N.J., Oct. 2, 2012 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE:HOV) (the "Company") today announced that the early tender period in respect of the previously announced cash tender offer and consent solicitation (the "Tender Offer") by its wholly owned subsidiary, K. Hovnanian Enterprises, Inc. ("K. Hovnanian"), for any and all of K. Hovnanian's outstanding 10 5/ 8% Senior Secured Notes Due 2016 (the "Notes") expired on October 1, 2012 at 5:00 p.m., New York City time (the "Early Tender Deadline"). The Company further announced that as of the Early Tender Deadline, K. Hovnanian had received tenders and consents from the holders of approximately $637.2 million, or 79.95%, of the total outstanding principal amount of the Notes. The consents received exceed the amount needed to approve the proposed amendments to the indenture under which the Notes were issued (the "Indenture"). The Company also announced that withdrawal rights with respect to Notes tendered in the Tender Offer expired at 5:00 p.m., New York City time, on October 1, 2012.
K. Hovnanian Enterprises, Inc. Announces Results Through Early Tender Deadline And Extension Of Tender Offer For Its 10 5/8% Senior Secured Notes Due 2016 And Satisfaction And Discharge Of Indenture Relating Thereto
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